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FAQ

Do I have to report foreign income?

  • Poster 운영자
  • Date2020.11.11.
  • Read174

If you are a Korean resident, you have to report your income from all sources, both inside and outside Korea. You also should report foreign income in Korean Won and use the exchange rate that was in effect on the day you received the income.

Generally, when you report such foreign income on your return, you can take either a deduction or a credit for income taxes imposed on the income by a foreign country. Tax treaties with other countries may affect whether you are eligible for this credit.



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