‘Additional Credit Card 10% Credit Card Deduction’

On the 19th, handling of the Special Act, Income Tax Act, and Corporate Tax Act

Expansion of tax credit for good landlords… Until the end of the year

One year postponement for post management of employment increase tax system

It is now possible to receive additional income deductions for those who have increased their credit card usage this year. The deadline for applying the tax credit for good renters has been extended until the end of this year, and the tax credit rate has also increased from 50% to 70%.

On the 19th, the National Assembly Committee on Restriction of Special Taxation, Income Tax Law, and Corporate Tax Law revised the bill.

According to the amendment, if the amount of credit cards used this year increases by more than 5% from the previous year, 10% of the increase in excess of 5% can be deducted from income. It is within the limit of 1 million won.

Even if a company that received the 2019 employment increase tax system declined in employment last year, it will be suspended for one year without applying follow-up management such as additional tax deductions. This year, maintaining the level of employment in 2019 means that the tax credit will continue to be provided.

If a resident transfers land for the construction of the relevant housing to the public purchase rental housing construction project by December 31, 2022, the transfer tax is reduced by 10%.

With regard to the expansion of employment insurance coverage, the period of submission of the daily waged income payment statement and the business income simplified payment statement will be shortened to’monthly’.

Instead, the additional tax rate for non-submission and delayed submission of daily wage income payment statements is reduced to 0.25% and 0.125%, respectively, and even if small business owners submit monthly payment statements by the current submission deadline, additional tax is temporarily applied for one year until June 2022. Exempt.

Penalty tax is exempted even if the amount unclear on the payment statement is less than a certain percentage.

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