South Korea Tax Agency Issues Guide on 2022 Year-End Settlement for Nonresident Workers

The South Korean National Tax Service Jan. 18 issued the 2022 year-end tax settlement guide for foreign workers. The guide explains: 1) deductions and tax credits; 2) the special tax regime, including the optional 19 percent flat-rate taxation for foreign workers for five years; 3) the year-end tax settlement amount calculation procedures, including illustrations; 4) FAQs on year-end tax settlements; and 5) a table for comparison of income and tax deductions for domestic and foreign residents and nonresidents. [South Korea, National Tax Service, 01/18/23]

Reference: View Guide on 2022 Year-End Settlement for Foreign Workers. View Index.