When running a business, you will feel the importance of proof. In addition to receiving proof, it is also important to issue it well to trading partners. Today, I will explain about the obligation to join the cash receipt franchise.
difference between the obligation to join and the obligation to issue cash receipts
💡 Who is subject to the obligation to join the cash receipt franchise?
① Individuals who engage in consumer-related industries
- Personal business owners with a previous taxable period income of over KRW 24 million
- Corporate business owners (regardless of income)
② Medical inderstries, veterinary inderstries, business owners who establish pharmacies according to the Medical Service Act, and engage in pharmacist-related industries
③ Business owners who provide services similar to lawyers, tax accountants, customs brokers, and architects
Click here for more information on obligated industries to issue cash receipts.
🚨 The obligation to join the cash receipt franchise is gradually expanding.
If you want to know more details, please refer to the relevant laws. 🙂
Business owners subject to the obligation to join the franchise
Related laws (Article 162-3 of the Income Tax Act)
💡 How can I check if I am subject to the obligation to join?
It's complicated just to see which industry applies, right? 😥
You can easily check on the National Tax Service website. Go to Home Tax Service website
After logging in to the National Tax Service website, click [Inquiry/Issuance] - [Cash Receipts] - [Additional Tax and Franchise Obligation Inquiry].
If there are multiple business owners, please make sure that the business registration number and the name match.
Select the tax year you want to report and click [Inquiry]. Then, the status of the obligation to join the cash receipt franchise will be displayed on the screen.
For example, since comprehensive income tax for 2021 is reported in May 2022, you should set it to 2022 and check it.
When running a business, you will feel the importance of proof. In addition to receiving proof, it is also important to issue it well to trading partners. Today, I will explain about the obligation to join the cash receipt franchise.
difference between the obligation to join and the obligation to issue cash receipts
💡 Who is subject to the obligation to join the cash receipt franchise?
① Individuals who engage in consumer-related industries
② Medical inderstries, veterinary inderstries, business owners who establish pharmacies according to the Medical Service Act, and engage in pharmacist-related industries
③ Business owners who provide services similar to lawyers, tax accountants, customs brokers, and architects
Click here for more information on obligated industries to issue cash receipts.
🚨 The obligation to join the cash receipt franchise is gradually expanding.
If you want to know more details, please refer to the relevant laws. 🙂
Business owners subject to the obligation to join the franchise
Related laws (Article 162-3 of the Income Tax Act)
💡 How can I check if I am subject to the obligation to join?
It's complicated just to see which industry applies, right? 😥
You can easily check on the National Tax Service website. Go to Home Tax Service website
After logging in to the National Tax Service website, click [Inquiry/Issuance] - [Cash Receipts] - [Additional Tax and Franchise Obligation Inquiry].
If there are multiple business owners, please make sure that the business registration number and the name match.
Select the tax year you want to report and click [Inquiry]. Then, the status of the obligation to join the cash receipt franchise will be displayed on the screen.
For example, since comprehensive income tax for 2021 is reported in May 2022, you should set it to 2022 and check it.