[Year-End Tax Adjustment Simplification Opens on the 15th] "Avoid Access on the 15th and 20th"

[Asia Economy Reporter Kwangho Lee] As the year-end tax settlement for 18 million workers begins on the 15th, it is advisable to avoid accessing the 'Year-end Tax Settlement Simplification Service' on days when usage is expected to be high.

On the 9th, the National Tax Service (NTS) announced, "The '2019 Year-end Tax Settlement Service' will be provided sequentially on the NTS Hometax website," and advised, "It is best to avoid accessing the service on the 15th and 20th, when connection times are expected to be long due to the data confirmation deadlines."

By using the year-end tax settlement simplification service, users can check proof documents such as medical expenses and credit card usage submitted by receipt-issuing institutions like banks and hospitals.

However, medical expense data and other documents additionally or revisedly submitted by receipt-issuing institutions after the opening of the simplification service will be finally provided on the 20th.

Additionally, to view the year-end tax settlement simplification data of dependents, prior consent for data provision must be obtained.

If the dependent is a child under 19 years old (born after January 1, 2000), it is possible to view the data after applying for 'Minor Child Inquiry' without the consent procedure.

Consent for data provision can be applied for via Hometax or Sontax, and workers who have difficulty using a computer can apply by visiting the tax office directly.

To receive the '13th Month Bonus' well, individuals should carefully check the income and tax deduction data necessary for the year-end tax settlement and personally gather any data that is not found.

The simplification data is collected from receipt-issuing institutions and simply displays various deduction data, so workers must directly verify specific deduction eligibility, limits, and other deduction requirements. In particular, if deductions are made incorrectly, additional penalties may be imposed, so it is important to thoroughly check whether deduction requirements are met.

The NTS produces and posts various contents such as year-end tax settlement guidebooks, leaflets, and videos (YouTube) to provide taxpayer-tailored guidance, and plans to conduct year-end tax settlement training for withholding agents at 125 tax offices nationwide until mid-month.

An NTS official stated, "The NTS analyzes the income and tax deduction details reported during the year-end tax settlement every year through computerized analysis," and added, "Please report faithfully during the year-end tax settlement with the awareness that sincere reporting is the best way to save taxes."