Is my monthly rental charge a deductible expenses to a foreigner?(월세공제)

Nope, it's not a deductible items for your salaried income if you're a alien in Korea.

If your salary income was less than 70mil.won, space was less than 85sq.meter, your rental expense will be deducted up to 7.5mil.won from your tax basis.

But if you're a foreigner, you're not eligible for this deduction including interest expenses for buying a house, even if it doesn't matter what kind of visa you hold.

So if your Korean spouse had a salary income, he or she can deduct it from the salary income instead of you foreigner.

I know it's a kind of controversial items among tax experts.

Please send me an email to jz@taxjz.com, havagooday!

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since 1981-

Korean Tax Blog

Joseph SY Zoh

CPA, California, a member of AICPA  |  Jz Associates/Tax Accounting Firm Hae-An

F:+82-31-273-5078  |  Skype: joezoh  |  Email: jz@taxjz.com

Web : www.taxjz.com  |  Blogs: www.koreantaxblog.com

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