Complete Cash Receipt Guide: Issuance, Inquiry, and Reporting All at Once

Why are Cash Receipts Important?

Cash receipts offer various benefits beyond simple transaction verification. From tax refunds through income tax deductions to reduced value-added tax for businesses, cash receipts are essential for savvy spending. However, many experience confusion and inconvenience during the cash receipt issuance process. This article provides a detailed explanation of everything related to cash receipts and guidance on how to use them wisely.

How to Check and Report Cash Receipts?

• Checking Cash Receipts: You can easily check them through the National Tax Service Hometax website or the Sontax app. Check your monthly and yearly usage history and don't miss out on income tax deduction benefits.
• Reporting Unissued Cash Receipts: If a business refuses to issue a cash receipt or fails to issue one despite being obligated, you can report it through the National Tax Service Hometax website. Submitting supporting documents when reporting may even result in a reward.

🔗 Checking and Reporting Unissued Cash Receipts

Essential Information about Cash Receipts

• Industries Obligated to Issue Cash Receipts: Industries required to issue cash receipts for cash transactions of 100,000 won or more. Examples include large supermarkets, department stores, and gas stations.
• Income Tax Deduction Benefits: Income tax deductions are available depending on the amount of cash receipts issued. This can lead to tax refunds at the end of the year, so it's important to keep track carefully.
• Reward System: Rewards are available for reporting unissued cash receipts. The amount of the reward varies depending on the reported amount, so refer to the National Tax Service website for details.

Tips for Using Cash Receipts More Smartly

• Cash Receipt Card: Using a cash receipt card automatically issues cash receipts without any cumbersome procedures.
• App Usage: Smartphone apps allow for easy management and checking of cash receipts.
• Regular Checks: To receive income tax deductions, you must regularly check your cash receipt issuance records and report any missing ones.

Frequently Asked Questions (FAQ)

• Where can I get cash receipts issued?
  • Most affiliated stores can issue them. You can present your cash receipt card or provide your phone number.
• What should I do if I lose my cash receipt?
  • You can apply for re-issuance through the National Tax Service Hometax website.
• How long is the reporting period for cash receipts?
  • Reporting unissued cash receipts is generally possible within 5 years.

Don't Miss Out on Cash Receipts!

Cash receipts are a valuable system that enriches our consumer lives. Using the information provided above, effectively utilize cash receipts and practice savvy spending.