Any international tax advisers on PH?
Discussion
Like it says up there, really.
I'm struggling a bit with the residency laws in South Korea, and the websites are quite open to interpretation which is not really what you want. Anyone an expert on such matters, or know anyone who is?
ETA - EVERYONE on PH is an expert... there must be one!
I'm struggling a bit with the residency laws in South Korea, and the websites are quite open to interpretation which is not really what you want. Anyone an expert on such matters, or know anyone who is?
ETA - EVERYONE on PH is an expert... there must be one!
Edited by philelmer on Saturday 5th April 11:05
Hi Phil
I have worked in the expat tax area for ten years, but haven't had too many people go to South Korea and therefore haven't really had to look at their tax laws! However, I can take a look at the internal material we have (I work for a very large accountancy firm so we have some really good material on this, even in the UK).
It may be that the laws are open to interpretation in SK and therefore it may be a case of having to speak to someone locally. Please PM me with some background info, such as when you are going to SK, how long you are going to be there etc. and I will see what I can dig up for you.
I have worked in the expat tax area for ten years, but haven't had too many people go to South Korea and therefore haven't really had to look at their tax laws! However, I can take a look at the internal material we have (I work for a very large accountancy firm so we have some really good material on this, even in the UK).
It may be that the laws are open to interpretation in SK and therefore it may be a case of having to speak to someone locally. Please PM me with some background info, such as when you are going to SK, how long you are going to be there etc. and I will see what I can dig up for you.
philelmer said:
Like it says up there, really.
I'm struggling a bit with the residency laws in South Korea, and the websites are quite open to interpretation which is not really what you want. Anyone an expert on such matters, or know anyone who is?
ETA - EVERYONE on PH is an expert... there must be one!
Hi Phil,I'm struggling a bit with the residency laws in South Korea, and the websites are quite open to interpretation which is not really what you want. Anyone an expert on such matters, or know anyone who is?
ETA - EVERYONE on PH is an expert... there must be one!
Edited by philelmer on Saturday 5th April 11:05
One of my clients is the Head of Wealth Management at a well known bank. What sort of level are we talking about? Do you have a lot of assets and cash that you need advice on, or is it just income tax?
Right, well in a nutshell as far as I can ascertain from talking to the locals you're liable for income tax in Korea on global earnings if you've been working in the country for over 183 days. Standard stuff. However you can only pay income tax if you have a residency card, which I can't get as I only travel in on a 3 month business visa.
I don't have any assets or anything that would complicate matters, just an income, however as I read the rules I'm liable, yet not able to pay. The taxation rates are a lot less than the UK, so paying wouldn't be so much of an issue, but what i don't want to do is find myself being chased by the local revenue department and fined astronomical sums for trying (unintentionally) to cheat the system.
Incidentally the client I'm working for can't, for quite complex reasons, get full 12 month visas.
I don't have any assets or anything that would complicate matters, just an income, however as I read the rules I'm liable, yet not able to pay. The taxation rates are a lot less than the UK, so paying wouldn't be so much of an issue, but what i don't want to do is find myself being chased by the local revenue department and fined astronomical sums for trying (unintentionally) to cheat the system.
Incidentally the client I'm working for can't, for quite complex reasons, get full 12 month visas.
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