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Post by fishmama on Sept 6, 2007 3:01:21 GMT -5
Does anybody know what is required regarding the 'resident certificate'. Is such a thing available in the UK? At the orientation somebody (Benjamin?) said a copy of your passport would suffice. But my co-teacher says I need to get a 'residency certificate'. I'm confused. I tried emailing Kim Mi-won, but her email box is full. What do we need to get/show?
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Post by kayakmonster3 on Sept 6, 2007 5:10:57 GMT -5
I do not know about British tax law, but for Americans you need form 6166. You can only get that if you haven't filed a 1040NR the previous year to claim an exemption on the money you have earned abroad. If you file a 1040x to amend your taxes to pay the taxes you earned abroad for the previous year than you qualify to get a 6166. Which it wouldn't make sense to pay an average of 35% of your pay to avoid paying 5% a year over the course of two year.
I am a tax god in America. Accountant I am taking a break from the rat race.
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Post by fishmama on Sept 7, 2007 0:34:30 GMT -5
My mind fogs over with forms and numbers, but I guess it must be a similar story with the UK Inland Revenue (albeit different numbers). Did I get the drift - you elect to pay tax in Korea at 5% to avoid being charged 35% when you go back to the States?
As a tax god, what would be your take on my situation? I haven't been resident or paid any tax in the UK since 1991 and I don't have any plans to reside or pay tax there in the future. Am I still exempt from tax in Korea. I still have my tax no and social security no and bank accounts in the UK. Escaping the 5% would be beneficial to me as in the words of The Who song, Going Mobile, 'the taxman ain't going to catch me'.
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Post by rianshearer on Sept 7, 2007 2:53:01 GMT -5
Why ever wouldn't you want to pay tax in the UK?
It's a land of freedom and democratic rights - with a highly developed tax system and welfare state. Fourteen yearolds have the right to sell you drugs in parks, and if they want be very free, steal your car... without being taxed on either - what a wonderful system!
Anyway, as far as I know, you get two years tax-free here, if you haven't lived here for more than two years previously, regardless of what you are doing elsewhere (I don't intend on going back to Britain either).
I worked here for two years before, so I don't bother trying, but my undertanding is that you don't have to pay if you're new here That epik website should help in theory.
More contentious an issue seems to be pensions, which for some reason only North American get off with.
On the flip side, the 'Beckham law' gives us (UK citizens) free multiple entry visas for Korea and Japan and very easy renewal (10mins in the office at Masan). Sorry I'm digressing, so I'll stop, as it was tax you were on about.
I pay about 4 or 5%, which is fine, but if you've not lived here before you shouldn't pay any here or at home.
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Post by kayakmonster3 on Sept 7, 2007 10:28:25 GMT -5
Pusanwebs job forum. Check out their writing on pensions, contracts and taxes. Funny in our system if you admit to stealing a car and profiting from it and report it to the IRS and pay taxes on it they can't use that evidence against you. And if you had to make special keys for the job---it is tax deductable. That is correct, because I am a hogwon prison escapee not a first-timer I elected to pay 5% to avoid paying 35%. My suggestion to you is get a bank account in Andorra it is not taxable in the European Union or abroad because it is not a member. But it gets treated as a European Union member. All the benefits none of the headaches. koreabridge.com/jobforums/index.htm
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Post by fishmama on Sept 10, 2007 1:56:01 GMT -5
Encouraging news on the tax front, but what do you have to show? What constitutes 'a residency certificate'?
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Post by kayakmonster3 on Sept 10, 2007 6:44:35 GMT -5
Americans you can fax in Your Certificate of Residency You can fax in your form 8802 if you use electronic payment. www.irs.gov/pub/irs-pdf/i8802.pdfAustrailians ?? Brits you need form 1308 According to the following government website this is what you need to do Look in your passport. If that has your Tax Identification Number than that is considered your certificate of residency. Here is my source and the link. for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after the 1st January, 2004 the paying agent shall establish the identity of the beneficial owner, consisting of the name, address and, if there is one, the tax identification number allocated by the Member State of residence for tax purposes. These details should be established on the basis of the passport or of the official identity card presented by the beneficial owner. If it does not appear on that passport or official identity card, the address shall be established on the basis of any other documentary proof of identity presented by the beneficial owner. If the tax identification number is not mentioned on the passport, on the official identity card or any other documentary proof of identity, including, possibly the certificate of residence for tax purposes, presented by the beneficial owner, the identity shall be supplemented by a reference to the latter's date and place of birth established on the basis of his passport or official identification card. You can also obtain your certificate of residence through a letter to your local tax office in England. www.opsi.gov.uk/si/si2005/20051459.htm www.hmrc.gov.uk/Canadians ? New Zealand ? South Africa ? Eventually, I might be able to fill in the whole thing.
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