What taxes do I have to pay? What about taxes in my own country?
You will be required to pay local taxes in Korea. You should check that the appropriate amount of income tax is being deducted. You can confirm the amount that you should be paying based on your salary on the National Tax Service website at: http://www.nts.go.kr/eng/
In addition, you should be aware of the tax laws in your own country. If you have any questions or concerns about it, please contact your local tax office.
- Canada has a tax treaty with Korea and as such, by working there with a legal visa you qualify as a non-resident and therefore are not required to pay taxes in Canada. You can find out more information about this on the Revenue Canada website at: http://www.cra-arc.gc.ca/tx/nnrsdnts/ndvdls/tmprry-eng.html
- American citizens can file to be exempt from paying taxes if they make less than $70,000/year. You should contact the IRS for more information: http://www.irs.gov/
- Australian citizens should visit the tax website to determine their status at: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/64144.htm
- New Zealanders should visit the tax website here to determine their status: http://www.ird.govt.nz/yoursituation-nonres/tax-residency/
- Citizens of the United Kingdom should go here for information on their tax status: http://www.hmrc.gov.uk/
