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Korean NTS Publishes Tax Guide For Foreigners

by Mary Swire, Tax-News.com, Hong Kong

14 December 2007


The Korean National Tax Service (NTS) has published an 'Easy Guide for Foreigners', to assist foreign taxpayers in filing their year-end tax settlement, it emerged recently.

Announcing the publication of the new guide recently, the NTS explained that:

"Based on the revised tax code, this publication provides an explanation of the year-end tax settlement, sample cases and answers to frequently asked questions."

The National Tax Service also revealed that it provides a helpline and automatic calculation servive for foreign taxpayers having problems calculating their tax liabilities.

According to NTS figures quoted in the Korea Herald, the number of foreign taxpayers filing annual returns increased by 9% on 2005 figures, to 242,000 in 2006.


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