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Simplified Year-End Tax Settlement Filing Available Online

Write: 2020-01-15 13:34:47Update: 2020-01-15 13:38:29

Simplified Year-End Tax Settlement Filing Available Online

Photo : KBS News

The National Tax Service(NTS) has opened a simplified service program for year-end tax settlement filing. 

From 8 a.m. Wednesday, those accessing the tax agency’s affiliate website at hometax.go.kr can complete paperwork needed for the tax settlement online in addition to calculating expected returns in advance. 

Newly categorized tax-deductible spending will also be eligible for online filing, such as costs associated with postnatal care centers, credit payments at museums and investments in KOSDAQ, the country’s secondary bourse.

The same settlement service is also available on an NTS mobile app called Sontax. 

To help foreign nationals file their year-end tax settlement, the tax agency offers an “Easy Guide for Foreigners’ Year-end Tax Settlement” document  and related guidelines on its website.

Those who understand Korean can use the simplified service. Those who cannot can visit the tax agency’s English site, nts.go.kr/eng, or call the NTS helpline for foreigners at 1588-0560.

All foreigners who have earned an income in South Korea must file a year-end tax settlement regardless of their nationality and period of sojourn.

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