When we buy something and pay with cash instead of a card, we often hear the question, “Do you have a cash receipt?”.
According to the words of a lawmaker in a recent news article, the number of cases of violation of issuance of cash receipts has risen by 50% over the past five years, so it is becoming quite a problem.
In addition, from next year, about 10 industries that require mandatory issuance will be added, increasing their importance. 현금영수증 조회
Among these, I have summarized the reasons for the cash receipt, inquiry, application method, income deduction, and non-issuance report.
Why do you do cash receipts? 이베이스매뉴얼
Inquiry, income deduction, and non-issue are all good, but it will be easier to understand if you know why you are doing it in the first place, right? There are only two reasons for issuing a cash receipt.
– The era when everything is evidence: These days, if you do one authentication thing, you have to present some evidence (?) in most cases.
In general, it is convenient for the part where the payment is processed automatically due to the increased use of credit cards, but the story is a little different when paying in cash unintentionally. Even if you use cash, you do not know what will happen in the future!
– Is it good for the country and the individual? : For individuals, above all else, the biggest benefit is that there is a certain amount of tax deduction for year-end tax settlement.
In fact, it is safe to say that it is published because of this, right? In relation to taxes, the National Tax Service makes it mandatory, and it can be useful because it is being used to prevent forgery/falsification of sales and tax evasion by self-employed people.
* It is a 30% benefit for year-end tax settlement, which is higher than the percentage received when using a card.
Source: No Cut News
Cash Receipt Inquiry
I think most of you are familiar with what a cash receipt is, and since the year-end tax settlement season is not far away, let’s start by looking at the method of inquiry through the National Tax Service Hometax.
1) First, log in to the National Tax Service Hometax and select “Inquiry/Issue – Cash Receipt – Inquiry” displayed on the main page. can be seen
2) Cash receipt inquiry is usually for the purpose of issuance for income deduction for individuals. I also checked the usage history (income deduction) search by selecting the category at the top.
If you would like to see the total by month, you can view it through the cumulative inquiry right below.
A screen that appears when a simple search is performed
The screen that appears when you search for a cumulative total
How to apply for a cash receipt
There are four main ways to apply for a cash receipt. Among them, the easiest way is to get a mobile phone number or business number to issue a cash receipt online, and if you ask offline, enter your personal mobile phone number and it will be issued. way.
In addition to this, there are 3 ways to issue:
– Cash Receipt Issuance Method: Using the item at the bottom of the inquiry, it is one of the very useful ways to automatically process cash receipts by registering the debit card you use as a dedicated cash receipt card.
You can register up to 5 cards, and make a note of the card name so that you can recognize it. If you click the Register button, you can check whether the card has been registered within 1-2 days.
It’s a bit cumbersome to access the National Tax Service Hometax, but it’s a pretty convenient way to do it once.
– Regarding the use of local currency: Some have been issued in the form of subsidies since last year, but I understand that local currency, which is secretly honey, is used a lot if used well within the area. Accordingly, many people are wondering if cash receipts are possible.
Before use, be sure to enter the Gyeonggi local currency app and click Apply for Income Deduction to use it after completing the identity verification process.
– Utilization of the National Tax Service call center ARS 126: There must be some people who have difficulty using online.
I have not personally used it, but at this time, it is possible to apply for a cash receipt through ARS. If you don’t know, it would be quickest to call right away and check!
Cash Receipt Income Deduction
I remember that the cash receipt income deduction was doubled for the month of March in all items due to the special situation of Corona last year, and 80% was applied to all items between April and July.
However, starting from August, the tax deduction rate for each item will remain the same as in traditional markets/public transportation: 40%, check card/cash receipt 30%, and credit card 15%.
If you have a high percentage of credit card use, you can also consider a way to maximize the benefits you can receive from year-end tax settlement by properly mixing debit cards or cash receipts!
* Income deduction for cash receipts is applied from 25% or more of an individual’s total salary, and the limit of deduction is 3 million won.
Report of non-issuance of cash receipt
What should I do if such an important cash receipt has not been issued?
First of all, issuing a cash receipt is mandatory regardless of the industry, so if this is not done properly, a penalty tax will be imposed from the business operator’s point of view.
Considering that consumers who report this can receive 20% as a reward (up to 500,000 won), it would be good for businesses to at least ask if they would issue them to consumers.
To report this, select “Consultation/Report at the National Tax Service Hometax – Non-issuance of cash receipt or refusal to issue credit card”, then view the relevant items in the guide, fill out and submit. I haven’t tried it yet, but I’m curious about the reviews from people who have experience.
We looked into cash receipt inquiry, application method, income deduction, non-issuance report, and the reason for filing a non-issuance report.
In addition to the items mentioned above, if you have spent money on books, newspapers, performances, museums, etc., it is correct that you should get it.
As the year-end tax settlement for 2022 approaches, many people must check whether a cash receipt is issued.
We would like to inform you about how to inquire and verify cash receipts, and how to voluntarily issue a voluntary issuance for any missing details.
Issuance of Cash Receipt = Mandatory (Seller)
Before examining the issue of voluntary issuance of cash receipts, it is necessary to learn about the types of businesses that are obligated to issue cash receipts.
According to the Income Tax Act, from April 1, 2010, businesses in the mandatory issuance industry are required to issue a cash receipt when the consumer payment method is cash for goods and services priced at KRW 100,000 or more, including VAT.
Even if the consumer does not request it, it must be issued, and a penalty of 20% of the amount is charged if it is not issued.
Even if you do not know the consumer’s personal information, you must voluntarily issue the issuance with the designated code (010-000-1234) of the National Tax Service within 5 days of paying in cash.
Businesses in the mandatory issuance industry are the same as above, and even if they do not subscribe to a cash receipt merchant, a fine or additional tax will be charged for non-issuance.
In addition, even if it is not a compulsory issuance business, it is obligatory to supply goods or services for business and to issue a cash receipt after paying in cash.
Cash Receipt History Inquiry
You can follow the instructions on how to check your cash receipts step by step.
First, go to Hometex and click <Inquiry/Issue – Cash Receipt – Cash Receipt Inquiry>.
Click on <Accumulation of usage history (income deduction)> to go there.
If you cannot log in at this time, you can register and log in using the method you want (financial certificate, joint certificate, etc.).
If you log in and click the Accumulated Usage History menu, select 2021 as the year of inquiry for year-end settlement, and click the <Search> button, the above window will appear.
You can inquire about the history of the last 4 years, and you can check the number of use cases, the amount used, the amount subject to deduction, and the amount subject to deduction.
If you click on each month of use, you can view the cash receipts you have been issued for each month.
If there are any omissions for you here, you are now applying for a voluntary issuance of cash receipts.
Voluntary issuance of receipts
You can also follow the instructions on how to voluntarily issue a cash receipt.
First, go back to the menu and click <Edit Cash Receipt – Register as a Consumer for Voluntary Issuance>.
There are three types of information required for voluntary issuance of cash receipts: approval number, transaction date, and amount.
If you have a receipt, enter the above 3 items and proceed with inquiry and registration/selection.
If you don’t have one, you should of course contact the company and get a receipt.
But wouldn’t it be a problem if the company did not issue a cash receipt?
However, as explained above in this post, issuing a cash receipt is compulsory, and non-compliance may result in a fine or penalty.
First, persuade the seller to proceed with the issuance of cash receipts voluntarily, and if you do not comply, you can report it.
If there is a business that refuses to issue a cash receipt, you may receive a reward after reporting as above.
Because Korea is strict about taxes, it seems that they are encouraging reporting by giving a reward equivalent to a whopping 20%.
Up to this point, we have looked at the voluntary issuance method of cash receipts and related information.