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Many people are confused about where to pay taxes on income earned abroad. In Korea, income tax is based on residency, not nationality. If you have an address in Korea or spend at least 183 days a year here, you're classified as a domestic resident, which means that any income you earn abroad is subject to comprehensive income tax. Luckily, if you've already paid taxes abroad, you can use the foreign tax credit to avoid double taxation. It's important to note that you must report your foreign income with your May tax return to get the credit. If you have foreign earned or business income, it's a good idea to prepare ahead of time. #foreign income tax #foreign income tax return #foreign earned income tax #183 day resident standard #foreign tax credit #double taxation #double tax avoidance #global income tax