Wednesday, May 31, 2017

In Korea, there are separate receipts for cash payments called cash receipts. They are different from ordinary receipts. Credit card payments leave records. These records are stored electronically. However, cash leaves no trace. Cash receipts are intended to leave records of cash transactions. The receipts can be used to deduct expenses when people do their taxes. The government can increase its tax revenue by getting more accurate data on all transactions. By registering with the National Tax Service, users can receive cash receipts more easily. They just have to enter their phone number at the store. The stores are required by law to ask customers whether they want a cash receipt.

I don't like having all these paper receipts.

If you register with the NTS, you can save them electronically.

Is that hard to do?

It's a snap. It only takes a few minutes.