Under tax law, there are industries that are obligated to issue cash receipts.
These businesses must issue cash receipts for cash transactions of 100,000 won or more per transaction, even if the consumer does not request them.
If violated, a 20% additional tax of the transaction amount will be imposed 😱
The number of industries obligated to issue cash receipts is increasing every year, so please make sure to check!
💡 What are the industries obligated to issue cash receipts?
Business Services
| Lawyers, certified public accountants, tax accountants, lawyers, architects, legal professionals, arbitrators, management consultants, technical consultants, appraisers, loss adjusters, customs brokers, technicians, surveyors, labor consultants, administrative business |
| Health care | General hospitals, dental hospitals, oriental hospitals, nursing homes, general clinics, other clinics, dental clinics, oriental clinics, veterinary practices |
| Accommodation and food service | General entertainment establishments (including adult entertainment businesses), martial arts entertainment businesses, general and residential accommodation operations, business catering services, boarding house operations, shared accommodation operations
|
Education services
| General educational institutions, art schools, foreign language schools and other educational institutions, driving schools, taekwondo and martial arts educational institutions, other sports educational institutions, other educational support services, youth training facilities (limited to educational purposes), technical and vocational training schools, computer schools, other educational institutions
|
and more
| Golf course operations, golf practice facility operations, funeral and related services, wedding facility businesses, wedding counseling and preparation services, real estate intermediation and agency, real estate investment consulting, postpartum care centers, watch and jewelry retail, skin care, nail care and other beauty businesses, weight management centers and other body management services, massage businesses (limited to foot massages and sports massages), indoor architecture and finishing construction (excluding only wallpapering), portrait and event video shooting businesses, clothing rental businesses, packaging and moving transportation businesses, auto parts and interior sales, comprehensive auto repair, specialized auto repair, rental bus transportation, furniture retail, electric appliance and lighting equipment retail, medical equipment retail, paint, window and other construction material retail, kitchenware and household glass, ceramics and stone products retail, eyeglasses and lens retail, sports and athletic equipment retail, art and antique retail, used car sales and intermediation, musical instrument retail, bicycle and other transportation equipment retail, household appliances retail, pharmaceutical and medical equipment retail, physical fitness facility operations, cemetery sales and management, funeral vehicle operations, study room operations, hair care businesses, hardware and heating equipment retail, footwear retail, pet animals and related products retail, clothing retail, communication equipment retail, computer and peripheral equipment, software retail, health supplement retail, car washing businesses, wallpaper, flooring and mat retail, tool retail, bag and other leather goods retail, used furniture retail, camera and photographic equipment retail, motorcycle repair, home textile product repair, household textile product retail, transportation equipment fueling station operations, game equipment, dolls and toy retail, used electrical equipment and communication equipment retail, motorcycle and parts retail (limited to parts sales), women's outerwear manufacturing, men's outerwear manufacturing, footwear manufacturing, watch, jewelry and musical instrument repair, leather, bag and shoe repair
|
| E-commerce | Electronic commerce retail (limited to goods or services subject to the obligation to issue cash receipts in electronic commerce), electronic commerce retail intermediary (including purchasing agent businesses), and other telecommunications sales |
On mobile, you can scroll the table left and right 😀
- The industries indicated in red will be included in the obligation to issue cash receipts from January 1, 2023 onwards.
Businesses subject to mandatory registration with the National Tax Service
💡 When do I have to issue a cash receipt?
- 100,000 won or more per transaction (including VAT): Must be issued unconditionally even if the other party does not request it.
- Less than 100,000 won per transaction (including VAT): Issuance obligation if requested by the other party.
If you meet the issuance obligation criteria, you must issue a receipt even if the consumer does not request it or you do not know the consumer's personal information.
In such cases, you can voluntarily issue a receipt through the National Tax Service-designated code (010-000-1234) within 5 days from the date of receiving the cash.
💡 What is the deadline for issuing a cash receipt?
You must issue it within 5 days from the date of receiving the cash.
💡 What are the disadvantages of not issuing a cash receipt?
If you fail to issue a cash receipt despite the obligation to do so, a surtax and penalty may be imposed.
For two or more violations, a penalty of 20% of the refused amount will be imposed.
- 10,000 won or more per transaction (including VAT): 20% of the transaction amount
- Less than 10,000 won per transaction (including VAT): 5% of the refused amount upon refusal
💡 What are the disadvantages of not becoming a cash receipt franchise?
- Surcharge for non-franchisees: 1% of the sales amount of the consumer-facing industry during the non-franchise period
- Exclusion from simple expense ratio when estimating taxes
- Exemption from special tax reduction for small and medium-sized enterprises, etc.
How to become a cash receipt franchise
<Frequently Asked Questions>
💡 If I issued a tax invoice with the consumer's resident registration number, can I not issue a cash receipt?
❌ It belongs to failure to issue a cash receipt, resulting a penalty
💡 Is it possible to issue a cash receipt retroactively if it was not issued?
❌ Cash receipts cannot be issued for past dates.
If you have received cash, please issue a cash receipt within the issuance period.
Under tax law, there are industries that are obligated to issue cash receipts.
These businesses must issue cash receipts for cash transactions of 100,000 won or more per transaction, even if the consumer does not request them.
If violated, a 20% additional tax of the transaction amount will be imposed 😱
The number of industries obligated to issue cash receipts is increasing every year, so please make sure to check!
💡 What are the industries obligated to issue cash receipts?
On mobile, you can scroll the table left and right 😀
Businesses subject to mandatory registration with the National Tax Service
💡 When do I have to issue a cash receipt?
If you meet the issuance obligation criteria, you must issue a receipt even if the consumer does not request it or you do not know the consumer's personal information.
In such cases, you can voluntarily issue a receipt through the National Tax Service-designated code (010-000-1234) within 5 days from the date of receiving the cash.
💡 What is the deadline for issuing a cash receipt?
You must issue it within 5 days from the date of receiving the cash.
💡 What are the disadvantages of not issuing a cash receipt?
If you fail to issue a cash receipt despite the obligation to do so, a surtax and penalty may be imposed.
For two or more violations, a penalty of 20% of the refused amount will be imposed.
💡 What are the disadvantages of not becoming a cash receipt franchise?
How to become a cash receipt franchise
<Frequently Asked Questions>
💡 If I issued a tax invoice with the consumer's resident registration number, can I not issue a cash receipt?
❌ It belongs to failure to issue a cash receipt, resulting a penalty
💡 Is it possible to issue a cash receipt retroactively if it was not issued?
❌ Cash receipts cannot be issued for past dates.
If you have received cash, please issue a cash receipt within the issuance period.