Obligation to sign up for cash receipt franchise vs. Obligation to issue

① Sole proprietor

• If you engage in consumer services and your previous taxable period income is 24 million KRW or more
• Where it falls under a specific industry, such as a medical business, veterinary business, pharmaceutical business or lawyer business, judicial scrivener business, certified accounting business, tax business, etc.

② Corporation

• All corporations operating in consumer services (regardless of the amount of income)

① consumer services(=Obligation issued upon consumer request)

• If the customer requests a cash receipt, you must issue a cash receipt even if the transaction amount is only 1 KRW.
• If you don't issue it even though the consumer requested it, 5% of the amount will be charged as an additional tax.
  *If you refuse to issue a receipt, issue it differently from the actual transaction, or cancel it without the customer's consent, all are subject to additional tax.
  *Additional tax is excluded for transactions less than 5,000 KRW per case.

② Industries that are obligated to issue cash receipt (=Issued unconditionally when trading more than KRW 100,000 per case)

• If you are an industry obligated to issue cash receipt, you must issue a cash receipt for every transaction of 100,000 KRW or more, including VAT.
• Even if the consumer doesn't request it, it should be issued within 5 days from the date of receiving the cash.
• If you don't know the customer's personal information, you can issue a receipt voluntarily using the designated code (010-000-1234) by the National Tax Service.
• If you violate the issuance obligation, 20% of the outstanding amount will be charged as an additional tax. 😲