RULING ON TAX PAYMENTS OF OVERSEAS INCOME
입력 2019.11.11 (15:01)
수정 2019.11.11 (16:45)
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[Anchor Lead]
The Korean court ruled that a Korean football player playing in the Chinese football league has to pay 900 million won in taxes, for not reporting his income of 3.3 billion won earned overseas. This case implies that even the money earned overseas can be taxed locally.
[Pkg]
A Football player who played for the Chinese Super League in 2016, received 3.3 billion won for his first year. He omitted this salary and reported only his other incomes to the Korean tax authorities. The Seongdong District Tax Office imposed an income tax of 900 million won on his salary earned in China. The footballer refused to pay the tax and filed a lawsuit. The key issue is whether he is a local resident or not. According to the current Korean laws, a resident is someone who has a local address or a home here for more than six months. Such a person is obligated to pay local taxes. However, the athlete claimed that he wasn't a resident of Korea since he lived in China and paid Chinese taxes. The Korean court rejected this argument. The court believed his living base was in Korea. The court ruled that he was a Korean resident because his wife and children lived most of 2016 in Korea and spent about 200 million won for insurance and credit card payments that year. That he did not live an independent life in China separate from his family.
[Soundbite] (EMPLOYEE OF NAT'L TAX SERVICE(VOICE MODIFIED)) : "He was in China for two years, but he sent all the money to his family in Korea."
When determining a person's residency, the Supreme Court takes into account whether the person has a family to care for or assets in Korea.
[Soundbite] HEO YUN(KOREAN BAR ASSOCIATION) : "If a person spends the money earned overseas in Korea to increase his assets, that act qualifies one to be regarded as a local resident."
Son Heung-min and other athletes playing in foreign leagues are known to report even their overseas earnings to Korea's National Tax Service. Double taxation is not an issue, because the taxes already paid overseas are deducted from the tax levied by local authorities.
The Korean court ruled that a Korean football player playing in the Chinese football league has to pay 900 million won in taxes, for not reporting his income of 3.3 billion won earned overseas. This case implies that even the money earned overseas can be taxed locally.
[Pkg]
A Football player who played for the Chinese Super League in 2016, received 3.3 billion won for his first year. He omitted this salary and reported only his other incomes to the Korean tax authorities. The Seongdong District Tax Office imposed an income tax of 900 million won on his salary earned in China. The footballer refused to pay the tax and filed a lawsuit. The key issue is whether he is a local resident or not. According to the current Korean laws, a resident is someone who has a local address or a home here for more than six months. Such a person is obligated to pay local taxes. However, the athlete claimed that he wasn't a resident of Korea since he lived in China and paid Chinese taxes. The Korean court rejected this argument. The court believed his living base was in Korea. The court ruled that he was a Korean resident because his wife and children lived most of 2016 in Korea and spent about 200 million won for insurance and credit card payments that year. That he did not live an independent life in China separate from his family.
[Soundbite] (EMPLOYEE OF NAT'L TAX SERVICE(VOICE MODIFIED)) : "He was in China for two years, but he sent all the money to his family in Korea."
When determining a person's residency, the Supreme Court takes into account whether the person has a family to care for or assets in Korea.
[Soundbite] HEO YUN(KOREAN BAR ASSOCIATION) : "If a person spends the money earned overseas in Korea to increase his assets, that act qualifies one to be regarded as a local resident."
Son Heung-min and other athletes playing in foreign leagues are known to report even their overseas earnings to Korea's National Tax Service. Double taxation is not an issue, because the taxes already paid overseas are deducted from the tax levied by local authorities.
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- RULING ON TAX PAYMENTS OF OVERSEAS INCOME
-
- 입력 2019-11-11 14:59:15
- 수정2019-11-11 16:45:49
[Anchor Lead]
The Korean court ruled that a Korean football player playing in the Chinese football league has to pay 900 million won in taxes, for not reporting his income of 3.3 billion won earned overseas. This case implies that even the money earned overseas can be taxed locally.
[Pkg]
A Football player who played for the Chinese Super League in 2016, received 3.3 billion won for his first year. He omitted this salary and reported only his other incomes to the Korean tax authorities. The Seongdong District Tax Office imposed an income tax of 900 million won on his salary earned in China. The footballer refused to pay the tax and filed a lawsuit. The key issue is whether he is a local resident or not. According to the current Korean laws, a resident is someone who has a local address or a home here for more than six months. Such a person is obligated to pay local taxes. However, the athlete claimed that he wasn't a resident of Korea since he lived in China and paid Chinese taxes. The Korean court rejected this argument. The court believed his living base was in Korea. The court ruled that he was a Korean resident because his wife and children lived most of 2016 in Korea and spent about 200 million won for insurance and credit card payments that year. That he did not live an independent life in China separate from his family.
[Soundbite] (EMPLOYEE OF NAT'L TAX SERVICE(VOICE MODIFIED)) : "He was in China for two years, but he sent all the money to his family in Korea."
When determining a person's residency, the Supreme Court takes into account whether the person has a family to care for or assets in Korea.
[Soundbite] HEO YUN(KOREAN BAR ASSOCIATION) : "If a person spends the money earned overseas in Korea to increase his assets, that act qualifies one to be regarded as a local resident."
Son Heung-min and other athletes playing in foreign leagues are known to report even their overseas earnings to Korea's National Tax Service. Double taxation is not an issue, because the taxes already paid overseas are deducted from the tax levied by local authorities.
The Korean court ruled that a Korean football player playing in the Chinese football league has to pay 900 million won in taxes, for not reporting his income of 3.3 billion won earned overseas. This case implies that even the money earned overseas can be taxed locally.
[Pkg]
A Football player who played for the Chinese Super League in 2016, received 3.3 billion won for his first year. He omitted this salary and reported only his other incomes to the Korean tax authorities. The Seongdong District Tax Office imposed an income tax of 900 million won on his salary earned in China. The footballer refused to pay the tax and filed a lawsuit. The key issue is whether he is a local resident or not. According to the current Korean laws, a resident is someone who has a local address or a home here for more than six months. Such a person is obligated to pay local taxes. However, the athlete claimed that he wasn't a resident of Korea since he lived in China and paid Chinese taxes. The Korean court rejected this argument. The court believed his living base was in Korea. The court ruled that he was a Korean resident because his wife and children lived most of 2016 in Korea and spent about 200 million won for insurance and credit card payments that year. That he did not live an independent life in China separate from his family.
[Soundbite] (EMPLOYEE OF NAT'L TAX SERVICE(VOICE MODIFIED)) : "He was in China for two years, but he sent all the money to his family in Korea."
When determining a person's residency, the Supreme Court takes into account whether the person has a family to care for or assets in Korea.
[Soundbite] HEO YUN(KOREAN BAR ASSOCIATION) : "If a person spends the money earned overseas in Korea to increase his assets, that act qualifies one to be regarded as a local resident."
Son Heung-min and other athletes playing in foreign leagues are known to report even their overseas earnings to Korea's National Tax Service. Double taxation is not an issue, because the taxes already paid overseas are deducted from the tax levied by local authorities.
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