For Foreign Workers, Filing for Tax Return by February 28: Are you eligible?

At the beginning of each year, Koreans submit documents for tax return. This also applies to expat workers. See if you are eligible and get tax return if possible. For a specific procedure, please ask your HR department who will able to tell you what/where/how to prepare necessary documents.

Disclaimer: In order to get the most accurate information, you must refer to the official sources published by National Tax Service(NTS). This article is for your reference.

ELIGIBILITY

CASE 1. If you are a resident foreign employee, the process of Year-end Tax Settlement is same as Koreans’.

Exceptions: A resident foreign employee is not eligible for deductions on housing fund, savings account for housing purchase and monthly rent.

CASE 2. If you are a non-resident foreign employee, items eligible for deduction is limited. Deductions are possible for the taxpayer himself/herself on basic deduction and pension contribution.

IMPORTANT DATES

1. Employee submits supporting documents for income deduction to his/her company. NOW – FEB 28

2. His/her company issues a withholding tax receipt for Year-end Tax Settlement(원천징수영수증) NOW – FEB 28

3. His/her company submit report on the status of withholding and statement on wage & salary payment to NTS. NOW – MAR 12

For more information on special deduction for foreign employee and more, please visit National Tax Service website or blog. (Click here to go the related article by National Tax Service)

The first page of National Tax Service Korea.