Individual Income Tax

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When it comes to a personal income tax return, you need extra support to prepare a tax report. It is because a small business is not often fully supported by operation teams like corporations do. Working with ARA TAX enables you experience a transparent tax filing process, minimizing your burden on preparing statutory documents. 

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Examples of our professional services delivered to individuals with registered business in Korea are the following:

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• Preparations and filing of personal income tax returns
• Representation in communication with the local tax offices
• Adjustment of taxable income by Korean Tax Law

• Ongoing tax advice on regular and extraordinary issues that may have an impact on business
• Year-end closing
• Support during tax audits and representation by tax inspection

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You work as a 3.3% freelancer in Korea, and you would like to get professional help on the present and previous years’ tax filing; feel free to contact us. We make your tax filing process easy and painless so that you can save your time and effort.

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Value Added Tax 

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VAT is often overlooked by new business owners. It is only after the business owners receive tax bills with a penalty when they reach us to fix the problem.  Value Added Tax(or VAT) levied on the sale of goods or services in Korea. Businesses who are VAT-registered must charge their customers 10% on the goods or services they are selling and then pay VAT to National Tax Service every six months.

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National Tax Service recommends all registered businesses issue an electronic tax invoice or a cash receipt. VAT data is reported and maintained almost on a real-time basis in Hometax and inconsistency of VAT filing can trigger a tax investigation by the tax office.

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At ARA TAX, with our in-depth knowledge and experience of advising cross-border transactions, we can help you establish a strong foothold not only on local but also on the global market. Examples of our professional services for VAT related issues are the following:

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• VAT registrations for new businesses
• VAT filing and compliance with local VAT law
• VAT reclaim and refund
• VAT risk management
• VAT return for a liaison office of a global company

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