Korean Tax Refund for Foreigners, Students, and Tourists in 2023
A comprehensive guide on Korean tax refunds for foreigners, students, and tourists in 2023.
Korean Tax Refund for Foreigners
Foreigners visiting Korea can benefit from tax refunds on goods purchased during their stay. To qualify, you must spend a minimum amount at participating stores and present your passport. Refunds can be claimed at designated counters in airports or major shopping centers. This process is designed to encourage tourism and make shopping more attractive for international visitors. Who is eligible? Foreigners staying in Korea for less than 6 months and Koreans living abroad for more than 3 months can request this service. There are two ways to get a tax refund: immediate (tax-free shopping) or at the end of your journey.
Korean Tax Refund Form
To claim your tax refund, you need to fill out the Korean tax refund form. This form is typically available at the point of purchase or can be obtained at refund counters. Make sure to keep your receipts and have your passport ready. Properly completing this form ensures a smooth refund process, either in cash or credited back to your card.
Korean Tax Refund for Students
International students in Korea can also avail themselves of tax refunds. If you are a student purchasing educational materials or other eligible items, you can claim a refund by showing your student ID and passport. This benefit helps in reducing the overall cost of studying abroad and makes educational resources more affordable. 1. Purchase less than 75,000 won If your purchased goods total less than 75,000, you can skip the customs service queue for a stamp. After check-in, simply go to the Refund Tax kiosk, scan your passport, and your VAT refund application. 2. Purchase more than 75,000 won If your total is over 75,000, the process will take longer. Start by getting your boarding pass. If your purchased items are in your suitcase, notify the staff that you have tax refund goods. The officer will attach the claims sticker and return your suitcase. Take your luggage to the Oversize baggage check-in counter and proceed with the check-in. Show your tax refund form(s) and purchased items to the customs officer to get the Custom Export Approval stamp (or “All Goods Export” stamp). Finally, you can check in your luggage at the counter.
Korean Tax Refund for Tourists
Tourists in Korea can enjoy tax-free shopping on a wide range of products. To get a refund, ensure you shop at stores displaying 'Tax-Free' signs and spend the minimum required amount. Present your passport at the time of purchase and collect your tax refund form. Refunds can be processed at the airport before departure, making it a convenient option for travelers. The total amount of tax refund is limited to 5,000,000 won per trip. At the end of your journey, you can obtain your refund at various points.
Korean Tax Refund for Foreigners 2024
In 2023, the Korean tax refund process for foreigners has been streamlined to be more efficient. New regulations have been introduced to make claiming refunds easier and quicker. Ensure you stay updated with the latest guidelines and take full advantage of the tax benefits available to you as a foreign visitor in Korea.
Korean Tax Refund for English Speakers
For English speakers, the Korean tax refund process is relatively straightforward. Many refund counters and participating stores offer services in English, ensuring that language barriers do not hinder your refund claims. Look for English instructions on tax refund forms and do not hesitate to ask for assistance if needed. Places informations 1. Incheon Airport: Oversize baggage counter : Section D and J Refund counter/booth : 3rd floor, gate 27 – Duty Free area 2. Gimpo airport: Global Tax Free : 3rd floor (departure floor), gate 36 3. Jeju airport: Global Tax Free : 3rd Floor, gate 14 4. Daegu airport: Global Tax Free : 2nd floor, gate 2 5. Busan/ Gimhae airport: Global Tax Free counter/booth : 2nd floor, Airline counter A12