If you’re a tax resident in Korea, it may effect on your home country’s tax return. Thus, determination of your tax residency status is critical for your tax filings in Korea.
General rules for tax residency test for INDIVIDUALS
- Resident : taxed on world-wide income
In principle, a resident refers to an individual who has had his/her domicile in Korea or a place of residence in Korea for 183 days or longer.
- Non-resident : taxed only on Korean-source income
Any individual other than a resident.
2019 tax return filing season is coming up soon. For further information, please contact [email protected] or request a consult.