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This content applies specifically to South Korea. Receiving cash receipts through a phone number is not enough to claim an income deduction: you must register that number in Hometax, the tax service portal. Check the transaction history the day after registration to see whether the receipts appear. Register the number, then check the deduction In Hometax, open the cash receipt section for employees and consumers, then the menu for managing issuance methods, meaning the numbers or cards used to identify receipts. Check the phone number used at payment and register or correct it. Under the law effective September 18, 2026, general cash receipt spending has a 30% income deduction rate, compared with 15% for general credit card spending. Combined annual eligible spending must exceed 25% of total wages. A deduction reduces taxable income; it does not return 30% of spending in cash. Checking these conditions helps you judge which recorded receipts can count toward the deduction. A man ...

This content applies specifically to South Korea. For rent paid on or after February 28, 2022, you can request a cash receipt within 5 years of each payment date. Applying does not require the landlord's consent or business registration. A receipt proves payment, but does not automatically produce a deduction or refund. Prepare the records that support an application You can apply through Hometax, South Korea's online tax service. Prepare copies of the lease agreement and resident registration record, plus payment evidence such as bank transfer records. These establish the lease terms and actual payments for tax office review. Search Hometax for the residential rent cash receipt application, enter the lease and payment details, attach the files, and submit. Check the application result and issued receipts afterward. Woman at a low table checking rent payment records against receipt records What the Rent Cash Receipt guidance clarifies In the original article on Injoys, ...

This content applies specifically to South Korea. Missed South Korea's regular application period for 2025 income? You can still apply by December 1, 2026 (South Korea) if the income, asset and other requirements are met. Late applications carry a 5% reduction, with a separate asset-based reduction where applicable. Check the limits before estimating a payment For 2025 income, spouses' combined annual income must be below 22 million won for a single household, 32 million won for a single-earner household, or 44 million won for a dual-earner household. The respective maximum payments before reductions are 1.65 million won, 2.85 million won and 3.3 million won. These are ceilings, not promised payments. You must also check household members' combined assets as of June 1, 2025: they must be below 240 million won, without subtracting debts. Assets of at least 170 million won and below 240 million won trigger a 50% reduction; the late reduction then applies to the remaining...

This content applies specifically to South Korea. If you have a VAT interim payment notice for the second taxable period of 2026, the standard payment deadline is November 2, 2026. Corporations required to file an interim return must file and pay by October 26, 2026, unless a payment extension applies. Separate the payment from the return Individual general VAT taxpayers and small corporations generally pay the notice amount without filing a separate interim return. The notice bills 50% of the tax paid for the preceding taxable period, here the first half of 2026. You can check the amount through Hometax, the National Tax Service's online tax portal, to plan for the payment. A woman checks a phone at a bicycle repair shop with a waterline on the wall. VAT interim notice checks in one place The original article on OnBinder helps you distinguish payment obligations from filing obligations, with business categories and deadlines shown together. Its Hometax steps explain where t...

This content applies specifically to South Korea. If you regularly earn money from videos in Korea, business registration is required, and VAT exemption still leaves an income tax filing obligation. Recurring advertising, sponsorship and viewer support income counts as business income.   What determines VAT status Check employees and business facilities before assuming a solo channel is exempt. Having staff or physical facilities for business use puts the activity in the taxable media content creation category. Having neither places it in the VAT-exempt solo media content creator category. Professional filming equipment and a separate studio are examples of facilities. It helps to distinguish exemption from simplified taxation. Simplified taxation changes how value-added tax, or VAT, is calculated. Its general threshold, expanded in July 2024, is previous-year total sales below 104 million won, but business-type and other exclusions can still apply. Woman video creator seate...

This content applies specifically to South Korea. A dependent's donation cannot be included in the employee tax deduction if the donor exceeds the income threshold. For South Korea's year-end tax settlement, you may include a spouse's or dependent's eligible donations when the basic deduction requirements are met. The age restriction does not apply to donation deductions for returns filed on or after January 1, 2017.   Check income and donation type first The basic deduction, a tax allowance with family eligibility rules, generally requires total annual income of at most 1 million won. For a dependent with only wage and salary income, check whether total gross salary is at most 5 million won. With other income, review annual income separately. Special and general donations made by dependents may qualify. Political contributions and employee stock ownership association donations can be claimed only by the donor. Check the receipt's classification before includi...

This content applies specifically to South Korea. Facing Korea’s September 15, 2026 deadline for the first-half 2026 claim? You may choose the semiannual application if both you and your spouse have only earned income and meet the household, income, and property rules. Applications run from September 1 to September 15, and the assessed amount is scheduled for payment on December 17, 2026. A notice is not proof of eligibility, and not receiving one does not prevent a direct Hometax application. Another easy mistake is treating the 35% payment formula as 35% of first-half wages.   Choose the application route that matches the income Hometax is the Korean National Tax Service’s online tax portal. Notice recipients can use a mobile notice, its mailed QR code, ARS at 1544-9944, or Hometax; anyone without a notice can log in and select the direct-entry semiannual application. If either spouse has business income or religious worker income, a regular application is required instead...

This content applies specifically to South Korea. September 15, 2026 is the application deadline if your household earned only employment income during the first half of 2026. If you qualify after review, 35% of the estimated annual Earned Income Tax Credit may be paid in December 2026. The semiannual system can be confusing because an application notice does not guarantee payment, and the December amount is an advance that will be reconciled the following year.   Income, assets, and household limits The total income ceiling is 22 million won for a single-person household, 32 million won for a single-income household, and 44 million won for a dual-income household. Income exactly equal to the applicable ceiling is included. Household classification also depends on a spouse, dependent children, qualifying direct ascendants aged 70 or older, and detailed legal conditions. Combined household assets must be 240 million won or less as of the valuation date specified by the Nation...