Foreign workers should file 'Year-End Taxes'

Wage- earning workers of foreign nationality should file a year-end tax settlement just as workers of Korean nationality do, according to the tax agency.  The agency provides varoius services to support foreign employees in filing their taxes in the country. 

According to NTS(National Tax Service), all foreign employees, excluding day laborers, should file their year-end taxes for 2022 by the day on which wages for February this year are paid, regardless of their nationaliy, length of residency or amount of income. If the salary for February is not paid until the last day of February, the year-end tax settlement should be done by that day.

 

The method and deadline for foreign workers to file their year-end taxes are identical to those for Korean workers. They should submit their income deduction and tax deduction reports, as well as the related supporting documents, to their employers, instead of submitting them to the tax office.  

Depending on the results of the year-end settlement, employees will either pay more or be refunded for income taxes overpaid during the past year.

 

Foreign workers can also use the implified year-end tax settlement service for the first time this year. It lessens the burden on each tax filer, as the tax agency forwards employees' year-end tax settlement data directly to employers with the employees' consent.

 

The NTS urged employers to help foreign employees with their year-end tax settlements, advising them to use the "Easy Settlement," which is available on the agency's English website, on top of its English-language hotline for foreign nationals at 1588-0560, where it responds to inquiries.