NTS makes expat tax rebates easier

By John Redmond

For many expat workers in Korea, preparing to file tax returns with the National Tax Service (NTS) can be something of a nightmare, even though foreigners are eligible for the same basic deductions as Koreans.

For this reason the NTS is aiming to raise awareness of year-end tax settlements among foreigners with a downloadable “Easy Guide” booklet explaining tax rebates in English.

Expats who reside and work in Korea for a year or more qualify for basic tax deductions including medical and educational expenses and insurance payments.

Special tax advantages for expats include the choice of a 15 percent flat tax rate or a progressive rate, which varies depending on income.

Tax returns are due at between Jan. 25 and Feb. 20.

For more information visit www.nts.go.kr/eng or call 1588-0560.