A text message from the National Tax Service says that you must file a comprehensive income tax. In order to properly file a comprehensive income tax return, it is necessary to know the exact meaning of the comprehensive income tax, the criteria for refund, the method of inquiry, and the payment date. Today, we will learn everything about the comprehensive income tax refund and how to easily check and apply for the refund at Samchum Sam.
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What is comprehensive income tax?
Comprehensive income tax means “tax on income earned from economic activities in a year.” Comprehensive income includes earned income, retirement income, pension income, interest income, dividend income, business income, rental income, etc. What if any of these income? You are eligible for comprehensive income tax return. Let me summarize the types of people who are required to report more simply.
If there is business income (excluding those with year-end settlement business income only)
Where the total amount of financial income exceeds 20 million won
Where the total annual amount of private pension exceeds KRW 12 million
Where earned income is generated in two or more places and the year-end settlement is not made in total
Where the total amount of other income exceeds KRW 3 million
Where earned income and business income occur at the same time
However, in the case of earned income, there is no need to file a separate comprehensive income tax as long as the company has completed year-end tax adjustment. Businesses and freelancers who do not file year-end tax adjustments must complete their returns during the comprehensive income tax filing period from May 1st to May 31st every year. If you report late, you will be subject to additional taxes, so be careful!
※Please be aware! Workers who belong to the workplace may also be eligible for the comprehensive income tax return.
Where the year-end settlement has not been made at the previous job among the retired or retired workers
Where you are a worker who makes year-end settlement and have income other than earned income
If you’re a worker and you’re a double worker, or if you’re a two-tip worker
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Why does the comprehensive income tax refund occur?
Some of the people who paid the comprehensive income tax get a refund of some of the taxes. This is because the amount of tax paid, or the amount of tax paid before, is higher than the final comprehensive income tax to be paid. So, the tax I paid was more than what I had to pay. More specific refund criteria are as follows.
1) In the case of a private business operator
In the case of overpayment of the interim prepayment tax amount in November last year
In the case of payment in full in May last year as a retroactive deduction for deficits
Where taxes related to income other than business-related income have already been paid
2) in the case of freelancers
Where the amount of tax paid is higher than the final calculated total income tax
(If 3.3% is deducted and the amount is received, the 3.3% withheld is the amount of tax paid in advance because it is income generated after tax deduction.)
How do I check and apply for the comprehensive income tax refund?
Samchumsam is very simple and accurate in your refund inquiry and refund application. This is because Samchumsam uses advanced AI logic to find the maximum amount of individual refunds.
Follow this procedure to complete the comprehensive income tax refund inquiry!
Accessing Samjumsam’s homepage or app
Authenticating Kakao Talk
Applying for a comprehensive income tax refund for 2022
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When will the comprehensive income tax refund come in?
Samchumsam informs your tax office of your refund application details, and the tax office transfers the refund to your account through various processes.
Regular filers who report from May 1st to May 31st can receive a refund within 30 days of their last report, i.e., the report made on May 31st. It is usually paid in order from late June to early July, so please refer to the schedule.
However, it takes more time for those who report after the deadline, that is, those who report after the filing period. The refund will be paid as early as two weeks from the date of filing, or as late as three months from the date of filing. So if you want to receive the refund quickly, make sure to report it by the deadline for filing comprehensive income tax.
Regular report: Within 30 days from the deadline for regular report
Report after deadline: Within 2 weeks to 3 months
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Samchumchum-sam is working hard to provide you with a refund through a procedure that is easier than any other service. You can check your refund and apply for a refund with just a few clicks! Please also find Samchumchum-sam when applying for a refund of comprehensive income tax this time.
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– This content was prepared as of May 8, 2023.
– The content of this content is provided for general information reference purposes only, and may be applied differently depending on the individual situation.
Therefore, we would like to inform you that we are not legally liable for direct or indirect damage caused by general information obtained through the content.
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