How will the year-end tax settlement that must be prepared every year change in 2025?
Check it out through this app
[2025 year-end tax settlement changes]
1) In this year’s year-end settlement, tax deduction benefits related to medical expenses and multiple children have increased.
2) Full tax deduction for medical expenses paid to dependents under the age of 6
3) Even for workers whose salary exceeds 70 million won, postnatal care expenses are tax deductible within the limit of 2 million won.
4) If there are two children, the tax credit is increased to 350,000 won, and if there are three or more children, the tax credit is 350,000 won per year plus an additional 300,000 won for each child exceeding two.
5) If the amount spent on credit cards, etc. exceeds 105% of the amount spent last year, an additional 10% of the excess amount is deducted up to a limit of 1 million won.
6) The payment limit for comprehensive housing subscription savings has been increased from 2.4 million won per year to 3 million won per year, allowing income deduction of up to 40% of the payment amount.
Check out various year-end tax deductions, tax reductions, and QNA within the app.
[Disclaimer]
- This app has no affiliation or collaboration with any government or political organization and is not an official app.
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[Information Source]
- Korea Policy Briefing website: Year-end tax settlement preview guide (https://korea.kr/news/policyNewsView.do?newsId=148936216)