Tax Refund Calculator

This calculator provides an estimate only and may differ from actual tax settlement results. For reference purposes only.

Income & Deduction Details

Annual gross income

KRW

Tax already paid (withholding)

KRW

Dependents (including self)

persons

Credit card spending

KRW

Pension savings

KRW

Insurance premium

KRW

Deduction Details

Employment income deduction12,250,000 KRW

Personal deduction (1.5M/person)1,500,000 KRW

Credit card deduction0 KRW

Pension savings deduction2,400,000 KRW

Insurance premium deduction1,000,000 KRW

Total deductions17,150,000 KRW

Tax Calculation Result

Taxable income32,850,000 KRW

Calculated tax3,667,500 KRW

Local income tax (10%)366,750 KRW

Total determined tax4,034,250 KRW

Estimated refund/payment

-1,034,250 KRW

Additional payment expected

Frequently Asked Questions

Q. How is the year-end refund determined?

Refund = annual withholding − actual tax owed. More deductions (dependents, credit cards, pension, medical) means a bigger refund.

Q. How much can the 13th-month salary be?

Average worker gets ~KRW 700k. Heavy deductions (pension, donations, dependents) can push refunds to KRW 2-3M. Plug in your numbers to forecast.

Q. How much credit card deduction is allowed?

15% on credit card spending above 25% of gross salary; 30% on debit/cash. Cap is KRW 3M (KRW 2.5M for incomes above KRW 70M). Useful for year-end spending strategy.

Q. Pension and IRP deductions?

Up to KRW 4M (pension savings) + KRW 3M (IRP), totalling KRW 7M tax credit. 16.5% credit rate for income ≤ KRW 55M, otherwise 13.2%. Year-end top-ups can boost refunds.

Q. When do medical deductions kick in?

15% credit on medical expenses above 3% of gross salary. Glasses/contacts, herbal medicine, and postnatal care count. Vision-correction expenses capped at KRW 500k per person.