| Taxes in Korea |
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Income tax, national pension, and Korean National Health Insurance premiums will all be deducted from your salary each month. We've broken it down to show you how it happens:
There is also a resident tax that fits in with your income tax deduction. It's only 10% of the income tax so on a 3% income tax deduction, you'll be paying 3.3% IN TOTAL for income tax and resident tax. Generally, most employers deduct from 3.3-7% of your salary and many don't include the national pension plan amount. Some employers will deduct only half of the national pension plan and pay the other half themselves. Some teachers can get the total contribution amount from the national pension plan returned to them at the end of their contract. Talk to one of our representatives if you would like more information on how to do this. |
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| Last Updated ( Thursday, 07 August 2008 18:47 ) |






