KMK: Pay in Cash = Tax Breaks

That’s right, I didn’t believe it either until my co teacher informed me and the other native teacher at work that we were eligible for an increased tax refund if we turned in our expenses.

You can do this two ways. One by using your credit card statements that reflect the purchases you made in Korea during the year. Secondly, you can get the “cash receipt” at stores when you make a purchase. The cash receipt system tracks cash payments made by expats by either giving the clerk your phone number or by swiping a handy card. The information is then collected and sent to the tax office. You can find out more about that over at the Joongang Daily article.

Unfortunately, I didn’t get a tax refund becasue I owed the government money. However, happily, the amount I owed was reduced by 250,000Won so it pays to use this system.

The above article will take you through the steps you need to apply for and get your card at the National Tax Service website.

Happy shopping!