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Foreign Workers Required to File for Year-End Income Tax Adjustments by End of Feb.

Written: 2021-01-21 15:08:18Updated: 2021-01-21 15:23:17

Foreign Workers Required to File for Year-End Income Tax Adjustments by End of Feb.

Photo : YONHAP News

Foreign workers in South Korea, excluding day laborers, will have to file for year-end income tax adjustments by the end of February, regardless of the period of their stay.

According to the National Tax Service(NTS) on Thursday, if the worker has a permanent address in South Korea or has stayed in the country for over 183 days, they will be subject to the same tax deductions as Korean nationals.

However, they will not benefit from deductions on housing funds and savings for purchasing a house, and a tax credit on monthly rent.

If the worker has stayed in the country temporarily, he or she will only get some deductions, including a pension premium, but not on medical and education expenses.

There are also additional deductions offered to foreigners. Further information is available on the NTS' English website, which also offers information in Chinese and Vietnamese.

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