Starting next year, it will be mandatory to issue cash receipts for any transaction over 100,000 won at travel agencies or study cafes.
The National Tax Service announced on the 15th that it will add 13 new categories to the list of industries required to issue cash receipts, increasing the total to 138. Specifically, these include ▲retail of clothing accessories and imitation jewelry ▲travel industry ▲other travel assistance and reservation services ▲ambulance services ▲operation of indoor stadiums, outdoor stadiums, ski resorts, comprehensive sports facilities, swimming pools, and bowling alleys ▲operation of other sports facilities such as squash courts ▲repair of computers and peripherals ▲pet funeral and protection services, among others.
From next year, study cafes will be included in the category of reading room operations, making them subject to mandatory issuance requirements. Business owners in mandatory issuance industries must issue a cash receipt for any transaction over 100,000 won (including value-added taxes) when providing goods or services and receiving payment in cash, even if the consumer does not request it.
If the personal details of the transaction partner are unknown, the cash receipt must be issued within 5 days from the transaction date to the designated National Tax Service number (010-000-1234). Failure to comply will result in an additional tax equal to 20% of the unissued amount.
Last year, 17 categories were added to the mandatory issuance industries, and 13 more were added this year. The number of cash receipts issued for the 17 newly designated industries such as online sales and appliance repair rose significantly, from 1.4 billion in 2022 to 1.5 billion last year. During the same period, the issuance amount increased from 45.8 trillion won to 48.9 trillion won.
A National Tax Service official noted, “Cash receipts are the first step toward creating a fair and just tax system together,” and urged businesses to faithfully issue cash receipts.