Korean Job Discussion Forums

[Chamchiman]

Sometimes I get asked whether I want a "cash receipt" (현금영수증) when I pay cash at the register. I've heard that we can keep track of these purchases to reduce our tax burden, but I don't know exactly how our tax bottom-line is affected by cash transactions.

Does anyone know how the "cash receipt" system works?

[Horangi Munshin]

I'm signed up for that. I even got a card the shopkeepers cab swipe. Otherwise you have to give your cellphone number. Maybe prepaids don't work?

I think a tiny percentage of what you spend can offset the income tax you pay. Just like credit card purchases.

[Ilsanman]

It allows for some tax write-offs at the end of the year. It is a way of the government to force businesses to report their earnings legally.

A lot of places will offer a discount if you don't do a cash receipt.

[Chamchiman]

Ilsanman and TigerTat,

Thanks for the replies. Most of us have our taxes done by our schools. Do you fellows do your taxes yourselves, or have your employers do it? How do you capitalize on the tax write-offs from your cash purchases?

[Horangi Munshin]

My school does my taxes. I just have to collect all the bits of paper. I get mail from the credit card people. I had to sign into the tax site and print out a statement to hand to the school.

[Chamchiman]

[Horangi Munshin]

NO! Not all the cash receipts!

I meant the printout from the tax site listing all the cash purchases where I remembered to use my card totalled for each month.

My credit card form
Form from pre-school (daughter)
Some insurance forms etc.

Basically anything I can claim a tax credit on.

[Horangi Munshin]

NO! Not all the cash receipts!

I meant the printout from the tax site listing all the cash purchases where I remembered to use my card totalled for each month.

My credit card form
Form from pre-school (daughter)
Some insurance forms etc.

Basically anything I can claim a tax credit on.

[Easter Clark]

[Horangi Munshin]

You need to go to the tax department website and basically enter your details. They will send out a card to you. You don't have to use the card though. If you register your phone number with them you just have to say that at the register and the details will be forwarded to the tax office.

Try here.

http://www.taxsave.go.kr/

[Easter Clark]

[Horangi Munshin]

It's the activex garbage they force you to download to use the site. Just like Korean Banks. Virus scanners flag it as a virus.

[ykc995]

can you still sign up for this card if you don't have a Korean social security number?

I have my alien registration card and number... will this suffice?

[tzechuk]