TAX
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TAX
Hi there been looking into jobs overseas and am looking for any information/knowledge you may have.
I am interested in poss working in korea and was thinking about the tax situation could any one enlighten me as to how tax would be paid, what levels their tax is at but also if working for a contract company, as i havent before, would the tax apply to the country they are based in?
Pay in my instance seams to be in US.
I know it's a little open but any help or discussion on the topice would be helpful.
Thankyou
I am interested in poss working in korea and was thinking about the tax situation could any one enlighten me as to how tax would be paid, what levels their tax is at but also if working for a contract company, as i havent before, would the tax apply to the country they are based in?
Pay in my instance seams to be in US.
I know it's a little open but any help or discussion on the topice would be helpful.
Thankyou
Last edited by Todders; 17th Sep 2008 at 14:33. Reason: Because i can't spell very well!!
Join Date: May 2000
Location: pay me I'll go there..
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Tax ..nasty stuff try and avoid it where ever possible.
Normally as an expat in places like Singapore, Hong Kong, Malaysia if you take a post there and have to get a local work permit or residence visa you have to pay the local tax (Singapore about 12% average, HKG about 16% for example). Some places, like Indonesia the norm is that the company you work for pays the tax on your behalf. Other places the tax is totally your responsibility but in other cases companies will pay an end of contract bonus that roughly equates to the tax you have paid, so they kinda pay it for you.
You can try an negotiate various options, some companies are flexible and will pay you 'off shore' and just pay a local allowance on site, others less so.
Cant say as I know how Korea works, but I am sure there are korean expat web sites you can Google.
good luck
Normally as an expat in places like Singapore, Hong Kong, Malaysia if you take a post there and have to get a local work permit or residence visa you have to pay the local tax (Singapore about 12% average, HKG about 16% for example). Some places, like Indonesia the norm is that the company you work for pays the tax on your behalf. Other places the tax is totally your responsibility but in other cases companies will pay an end of contract bonus that roughly equates to the tax you have paid, so they kinda pay it for you.
You can try an negotiate various options, some companies are flexible and will pay you 'off shore' and just pay a local allowance on site, others less so.
Cant say as I know how Korea works, but I am sure there are korean expat web sites you can Google.
good luck
