2018FY, Global Income Tax Return

NTS(National Tax Services) expecting around 7.3mil. taxpayers are filing the above income tax return by the 31st of May for 2018FY income, last year it was 6.8mil. returns according to the NTS announcement including sole-proprietors.

The following taxpayers need to file this time;

- Freelancers; 3.3% tax payers during the year(Must)

- Sole-proprietors; hold a tax registration certificate(사업자등록증)(Must)

- Salaried employer; need some correction for the year-end tax settlement(Must)

- Combined income sources(freelancer and employee) must

A lot of freelancers thought that they don't need to file since their employer withhold taxes and file it, but it's just withholding but no settlement at all for a year, so a year after there should be a lot of surprise taxes if you didn't file while combining income for a year.

NTS may open their website for filing from the 1st of May, so you can check it at the https://www.hometax.go.kr

Even you can file it there by Mobile phone or PC as you wish.

Any questions, please feel free to contact me by jz@taxjz.com