Preparation of documents of proof for income deduction and tax credit and submission of Report of Deduction & Tax Credit from Income (Employee → Company): Jan. 15-Feb. 28, 2017
   ■ Issuance of receipt for withholding wage & salary income tax (company → employee): By the end of Feb. 2017
   ■ Receipt of tax refund (employee): By early Apr. 2017

1. Publication of 'Easy Guide for Foreigners' Year-end Tax Settlement'

This guidebook provides information on year-end tax settlement for foreign employees and withholding agents in both Korean and English. download here.
   ■ Issuance of receipt for withholding wage & salary income tax (company → By the end of Feb. 2017
   ■ Receipt of tax refund (employee): By early Apr. 2017

2. Automatic calculation service for year-end tax settlement in English

At the English NTS website, foreigners can use the automatic calculation service to calculate the amount of tax payable or tax refundable. click here.

3. Year-end tax settlement consulting service for foreigners

The NTS provides consulting services to assist foreigners with year-end tax settlement.
   ■ Q&A: click here.
   ■ Helpline for foreigners: 1588-0560

   In this case, the education expense is not deductible because education expense paid to an overseas education facility is deductible only when it is paid by a resident who has Korean nationality as of the last day of the relevant taxable period. However, education expense paid to an authorized foreign school established in Korea is deductible.

   No, because a foreign medical institute is not considered a medical institute defined under Article 3 of the Medical Service Act.

   Yes. When the flat tax rate is applied, regulations on non-taxation, income deduction, tax reduction and tax credit related to income tax do not apply. Therefore, non-taxable income such as employer contribution to national health insurance is included in tax base.

   For a donation to be deductible, the organization to which the donation was made should be designated as a statutory charitable organization or a specified charitable organization in accordance with related laws such as the enforcement rules of the Corporate Tax Act.

   A taxpayer can request correction of the originally filed tax return to the competent tax office during the following global income tax return filing period (May 1-31) or within five years* of the last day of the aforementioned period.

   Within five years of the last day of the period for payment of tax payable for year-end tax settlement in the case where a withholding agent requests correction.

   ■ Foreigners can choose to apply the 17 percent flat tax rate for calculating tax on annual wage and salary income (including non-taxable income). The effective period for applying the flat tax rate is five years from the first day of providing service in Korea. (Starting from year-end tax settlement for 2017, the 17 percent flat income tax rate shall not apply if five years have passed from the first day of providing service in Korea.)
   ■ If a foreign employee meets certain qualifications (e.g., foreign engineers providing service in Korea under an engineering technology introduction contract, R&D personnel of a foreign- invested company), 50 percent of the calculated tax for wage and salary income for the past two years shall be reduced.
   ■ In the case of countries that have signed a tax treaty with Korea which includes a tax exemption provision for teachers (or professors), the residents of such countries shall be exempted from tax on lecture and research related income received in Korea for a certain period (mostly two years) after entering Korea.