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Deadline for Oil Tax Refund Set for June 1

Posted May. 07, 2009 08:23,   


The government will offer tax rebates for last year’s hikes in oil prices to about 1.5 million people, including those who newly landed jobs or registered their own businesses last year.

The amount of refund for individuals will vary from 60,000 won (47 U.S dollars) to up to 240,000 won (188 dollars) depending on their pay scale.

The National Tax Service said yesterday that it will accept applications for the tax rebates through June 1. Those eligible are workers who earned less than 36 million won (28,300 dollars) last year and the self-employed who earned under 24 million won (18,870 dollars) among those who filed tax returns.

Workers can apply for the refund with their employers, while those who quit their jobs before applying can submit documents on their income, employment period, and bank account numbers to their neighborhood tax office or at refund.hometax.go.kr.

The self-employed with newly opened businesses and workers who have comprehensive income can submit written applications individually to a tax office or file online. The refund will be transferred to the applicant’s bank account by the end of next month.