Tax & Payroll

Tax Accounting & Reporting Services

TaxCare provides tax accounting and tax reporting services to corporations, partnerships, individual entrepreneurs and proprietorships, branch offices, representative (liaison) offices, non-profit foundations and educational institutions, and to individuals.

 

TaxCare represents clients undergoing tax investigations or audits by the National Tax Service and clients disputing incorrect tax assessments or unreasonable tax code applications to their business or personal transactions.

 

TaxCare provides expert tax planning and consulting services to businesses and to individuals.

 

For its international clients whose local organizations in Korea are not large enough to maintain full-time finance staff, TaxCare provides bookkeeping, financial reporting to headquarters, and local cash management services.

PAYROLL TAX WITHHOLDING AND REPORTING

If wage or salary is paid monthly, the tax amount to be withheld is calculated by the “Simplified Tax Table” attached to the end of the Income Tax Law. A person subject to tax withholding must calculate the total annual tax amount in February of the following year or at the time of the last payment of income in the year. When the income earner completes employment during the year and collect or refund the difference between the tax amount payable.