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tax cash card system
« on: January 26, 2012, 12:53:40 pm »
Does anyone know if I can register online for the cash card and have it mailed to me or do I have to go directly
to my nearest tax office to apply?

In an empire of lies, telling the truth is treason - Ron Paul


Re: tax cash card system
« Reply #1 on: January 26, 2012, 02:59:49 pm »
You can request one online here...

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

It's also worth mentioning that many other cards also have this tax receipt function built in. Look for a logo (usually orange) that says "Cash Receipt" in English. It many be on the front or back of the card. Just looking through my wallet I've got several of them.... Homeplus Point Card, Shinsegae point card, GS point card, SK Enclean membership card, ok cashbag/happypoint cards..... the list goes on and on. As long as you registered for the card with your ARC number then it will acomplish the same thing that the card you get from the tax office will. You may already have one of these cards and not realize it.

You can also have your cash purchases reported by inputing your phone number into a keypad when you pay for things with cash. This only works if the phone is registered with your name/ARC number.



Re: tax cash card system
« Reply #2 on: January 26, 2012, 08:57:21 pm »
Thanks for the reply.
I will try that link.  I don't have any cards of any kind other than my ARC and bank card.  No cc, or anything else.  If I don't spend more than 20% of annual income, then should I just forget about getting the cash card since I won't get any tax returns?  If I'm correct, I believe they said you had to spend at least 20% of your income to be eligible to get tax deductions.
In an empire of lies, telling the truth is treason - Ron Paul


Re: tax cash card system
« Reply #3 on: January 26, 2012, 09:02:16 pm »
I just tried the link and it's all in korean (no english link).
Also it tried to search for a certificate on my computer or usb key but I don't have a
valid certificate.
In an empire of lies, telling the truth is treason - Ron Paul


Re: tax cash card system
« Reply #4 on: January 26, 2012, 09:35:57 pm »
Quote from: calvin0416
I just tried the link and it's all in korean (no english link).

What did you expect? This is Korea.

Quote from: calvin0416
Also it tried to search for a certificate on my computer or usb key but I don't have a
valid certificate.

If you don't have a digital certificate you'll have to get one from your bank...

Or just apply in person at the tax office...

Or just go to the nearest Homeplus and get a point card...

(you have tons of options here)

If I don't spend more than 20% of annual income, then should I just forget about getting the cash card since I won't get any tax returns?  If I'm correct, I believe they said you had to spend at least 20% of your income to be eligible to get tax deductions.

This is correct. Any amount that you spend in excess of 20% of your reported taxable income can be claimed as a deduction, subject to some rather complicated formulas, up to a maximum of 5 million won. Also, for reasons that I do not entirely understand, credit card expenditures can be deducted at a slightly higher rate than debit card or cash payments. In other words, it's better tax wise to use a credit card than to pay cash or use a debit card.

If you don't spend at least 20% of your income then there is no reason for you to be concerned with this.


Re: tax cash card system
« Reply #5 on: January 26, 2012, 11:04:32 pm »
Thanks.  So basically I need to go in person. 
But I barely spend 20% so I'll have to think about it I guess.
In an empire of lies, telling the truth is treason - Ron Paul


  • Davey
  • Moderator - LVL 3

    • 1820

    • February 01, 2010, 01:36:20 pm
Re: tax cash card system
« Reply #6 on: February 11, 2012, 12:06:45 pm »
Quote from: calvin0416
I just tried the link and it's all in korean (no english link).

What did you expect? This is Korea.

Quote from: calvin0416
Also it tried to search for a certificate on my computer or usb key but I don't have a
valid certificate.

If you don't have a digital certificate you'll have to get one from your bank...

Or just apply in person at the tax office...

Or just go to the nearest Homeplus and get a point card...

(you have tons of options here)

If I don't spend more than 20% of annual income, then should I just forget about getting the cash card since I won't get any tax returns?  If I'm correct, I believe they said you had to spend at least 20% of your income to be eligible to get tax deductions.

This is correct. Any amount that you spend in excess of 20% of your reported taxable income can be claimed as a deduction, subject to some rather complicated formulas, up to a maximum of 5 million won. Also, for reasons that I do not entirely understand, credit card expenditures can be deducted at a slightly higher rate than debit card or cash payments. In other words, it's better tax wise to use a credit card than to pay cash or use a debit card.

If you don't spend at least 20% of your income then there is no reason for you to be concerned with this.

From what I understand, it's 25% of your total income and the deduction is up to 3 million KRW. In addition, cash and debit expenditures are eligible for a 25% deduction, while for credit cards it's 20%. I'm not 100% certain regarding the numbers, but cash/debit is definitely more advantageous than credit cards for tax purposes (I've confirmed with Koreans).

« Last Edit: February 11, 2012, 12:08:18 pm by Davey »
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  • Jeff619
  • Expert Waygook

    • 817

    • May 26, 2011, 08:12:52 am
Re: tax cash card system
« Reply #7 on: January 20, 2013, 09:35:28 am »
I'm trying to register for this card but it keeps saying that my ID doesn't exist. I tried my i-PIN as well and my identity was confirmed in the pop-up but when it closed, I got the same message: My ID doesn't exist.

I tried the no spaces between my family and first name thing.

Does anyone know the solution for this?
Did you try it in all caps?  Sounds silly, but it's worked for me in the past.