tax refund Archives | Be Korea-savvy
Foreigners to Receive Tax Refund After Plastic Surgery

Foreigners to Receive Tax Refund After Plastic Surgery

SEOUL, March 9 (Korea Bizwire) – Foreigners who receive plastic surgery and aesthetic treatment in South Korea will receive a value added tax refund starting next month, the health ministry said Wednesday. The tax rebate will be given at special booths installed in the country’s international airports when foreign patients submit a certificate issued by authorized medical [...]

Chinese Tourists Spending More in Seoul Thanks to Instant Tax Refunds

Chinese Tourists Spending More in Seoul Thanks to Instant Tax Refunds

SEOUL, March 2 (Korea Bizwire) - Chinese tourists in South Korea spent more in the country following the introduction of an on-the-spot tax refund system, local data showed Tuesday. Since February, South Korean department stores offered instant tax refunds to foreign tourists who buy products at local duty-free shops, in line with its efforts to revitalize the tourism industry hurt by [...]

Major Imported Car Brands not to Offer Tax Refunds

Major Imported Car Brands not to Offer Tax Refunds

SEOUL, Feb. 25 (Korea Bizwire) - Major foreign brands selling cars in South Korea have decided not to offer any refunds to their customers despite the government’s recent tax cut, claiming that it has already been reflected in their ramped-up sales promotions, company officials said Thursday. The government ended a 1.5-percentage-point excise tax cut at the [...]

S. Korea to Offer Foreign Tourists On-Spot Tax Refund Benefits Starting in Jan.

S. Korea to Offer Foreign Tourists On-Spot Tax Refund Benefits Starting in Jan.

SEJONG, Nov. 30 (Korea Bizwire) – South Korea will offer on-spot tax refunds to foreign tourists who buy products at local duty-free shops starting Jan. 1, the government said Sunday. The Finance Ministry said it is moving to revise existing exemption guidelines governing foreign tourists so they need not pay value-added and excise taxes when they shop in the country. Under the proposed changes, an item costing less than 200,000 won (US$173) [...]

Tax Refunds Under Consideration for Foreigners Getting Cosmetic Surgery

Tax Refunds Under Consideration for Foreigners Getting Cosmetic Surgery

SEOUL/SEJONG, Aug. 7 (Korea Bizwire) — South Korea plans to give tax refunds to foreigners who receive plastic surgery here as part of efforts to lure more tourists, whose numbers have plunged following the Middle East Respiratory Syndrome (MERS) outbreak, the government said Thursday. The plan is outlined in the government’s 2015 tax code revision, [...]