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Changes on the year-end tax settlement in 2020

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Date 2020-02-12 Readnum 2257
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1. Expansion of tax exemption for production workers

2. Tax deduction of 2 million won for childbirth

3. Raising the large donation standard to 10 million won

4. Expansion of tax exemption targets for employees of small and medium sized businesses

5. Mitigation of tax exemption targets for the amount of repayment of the long-term housing mortgage loan

6. Deduction rate of income is applied to 30% of credit card bills

7. The requirement mitigation of tax exemption targets for housing lease

 

* Confirmation period of the simplified year-end tax settlement data : by Feb 15(Sat)  

* Submission of evidence of income/tax deduction : by Feb 29(Sat)  


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