NTS publishes year-end tax settlement manuals for foreigners

South Korea’s tax agency said Thursday that it has published its year-end tax settlement manuals for foreigners in English, Chinese and Vietnamese.

The publication of tax manuals in foreign languages, while are available both online and offline, comes as the number of foreign employees has been growing.

According to the National Tax Service data, Chinese and Vietnamese filers for the 2018 year-end tax settlement accounted for 44 percent of the total filers. 

The tax agency also provides an automatic calculation program for the year-end tax settlement and a call center in English.

Foreign employees with domestic wage and salary income last year should settle their year-end taxes by the day they receive their February salary.

Their process of settling year-end taxes is the same as Korean citizens. But foreign taxpayers can get certain benefits such as a 19 percent flat tax rate and engineers’ income tax reduction.

By Jie Ye-eun (yeeun@heraldcorp.com)