We're approaching the end of the year, and for most people in Korea, that means it's tax time.<br />This year, there are several new deductions filers can claim... for big events like the birth of a child... to mortgage interest and for factory employees who work overnight.<br />Hong Yoo has the details.<br />The year-end tax adjustment is coming up and it's a long process for people to calculate everything by themselves.<br />So the government is providing a simplified service.<br />But people have to be aware of the changes in tax deductions in order to take full advantage of them.<br />This year, people who earn less than 60 thousand U.S. dollars a year and have paid entrance fees to museums and art galleries with credit cards after July 1st get 30 percent of those fees deducted before calculating tax.<br />Also, postnatal care expenses are now included in medical expenses that are eligible for a tax deduction.<br />Again, people who earn less than 60 thousand U.S. dollars an year can get up to 2-thousand-5-hundred dollars of tax exemption for every birth.<br />The mother has to submit evidence with her name and the receipt to her company.<br />Factory workers get income tax exemption for working hours between 10 pm and 6 am.<br />People working in care services, beauty-related services, and accommodation services who earn less than 1-thousand-800 dollars a month will be exempt from income tax.<br />And workers that don't own a home or who own a single home worth less than 430-thousand dollars can get the interest back on mortgage loans paid to financial institutions.<br />To calculate the estimated tax payment or rebate, before the end of the year, people can use the preview service provided by the National Tax Service online.<br />Hong Yoo, Arirang News.<br />
