Refund Claims
Recovering overpaid Korean tax from the last five years. We review prior filings, explain what can be claimed, and let you decide whether to proceed.
What a refund claim is
A claim for correction asks the tax office to refund tax you already paid but did not owe. It is a right granted by the Framework Act on National Taxes, not a discretionary favour.
Five years, then it is gone
A claim can only be filed within five years of the statutory filing deadline. After that, however much was overpaid, it cannot be recovered. Every month of delay removes another period from reach.
Where a subsequent event occurs — a contract is rescinded, a judgment becomes final — a separate claim may be filed within three months of becoming aware of it.
Where refunds usually come from
- Expenses omitted because evidence was not collected at the time
- Credits and exemptions not applied — SME special reduction, employment credits, R&D credit
- Estimated filing where actual expenses were higher
- Personal and special deductions missed — dependants, disability
- Income reported twice
- Property disposals where acquisition cost or necessary expenses were understated
- Inheritance or gift filings where assets were overvalued
How it runs
- Review of prior filings — we obtain five years of returns and financial statements and work through them.
- What can be claimed, and roughly how much — we explain the basis for each item.
- Preparation and submission of the claim.
- Responding to the tax office — we prepare materials if further explanation is requested.
- Refund — paid with statutory interest once the decision is made.
The tax office is required to notify the outcome within two months of receiving the claim.
Free review when transferring from another firm
If you move your monthly bookkeeping to us, we review whether refund claims are available on the past five years at no charge.
If the bookkeeping contract is terminated within one year, fees for services provided free of charge may be invoiced.
Said plainly
A review may find nothing to claim. If your returns were accurate, there is no refund — and that is the correct outcome. We do not file claims without a proper basis: a weak claim is not only rejected but can invite closer examination of the original return.
We explain what we found and why, and you decide whether to proceed.
Questions about refund claims?
Tell us the situation and we will tell you which documents matter. Email is the easiest way to reach us in English; visits should be booked at least one day ahead.