Questions & Answers

Money Matters

If I pay for purchases with a Korean credit card, does this add to my income tax deductions?

That is true, in a way. Of the payments made with  a Korean credit card, some of what you paid will be returned to you. You must be paying income taxes in Korea to receive this rebate, however. If you don't have a credit card, you may be able to claim the same from certain cash receipts.

You could receive 20% of relevant amounts in excess of 20% of annual taxable employement income up to 20% of annual taxable employement income or W5.0 million, whichever is less.

More information on taxes and rebates or click on Working& Business, then go to the Income Taxes column. 

K4E Editor: Korea4Expats.com tries to ensure that the information we provide is accurate and complete, so should you notice any errors or omissions in the content above please contact us at info@korea4expats.com

 



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