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  • LAJenney
  • Veteran

    • 170

    • January 02, 2012, 08:19:51 am
    • Iowa
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Strange TAXES.... why?
« on: August 31, 2013, 08:44:25 am »
I dont understand taxes. Last month I had over 400,000won in taxes. I always pay around that. I make around 3.2 mil a month.

Some schools pay 3.3% taxes... my rate is much higher, clearly.

What are the tax rules? Why is it so dramatically different for different schools?
Looking to make new friends in Korea! I will be residing near Seoul, but living in Bundang.


  • taeyang
  • Moderator - LVL 4

    • 5508

    • September 08, 2010, 08:35:10 am
    • daejeon
Re: Strange TAXES.... why?
« Reply #1 on: August 31, 2013, 09:48:26 am »
general tax info: http://www.waygook.org/index.php/topic,42077.0.html

links to tax threads (depending on your nationality): http://www.waygook.org/index.php/topic,43234.0.html
use google to search the site

site:waygook.org XXXX

replace 'XXXX' with your search term


Re: Strange TAXES.... why?
« Reply #2 on: August 31, 2013, 10:44:27 am »
nts website in english: http://www.nts.go.kr/eng/ there is a tax calculator there (use ie of course). I played around with some basic numbers, my current salary including housing (around 3.5/month) the tax was 2.7 mil/year, with a 2.8/month salary the total tax was 1.3/year at 3.1 it jumps to 1.8/year

pension if you are in the private school  pension system that is 4.5%, health insurance is around 2.7%, citizen tax (local tax) 10% of total income tax.

If you are over 3.2 or so a month the tax rate really jumps, of course there are deductions if you have medical expenses or use your cc card a lot etc

again this is a rough idea