Subway Line 9 Issues “Cash Receipt for Single-Use Transit Card” for Personal Income Tax Returns
Starting in December, all subway lines, from Line 1 through Line 9, will issue cash receipts for the purchase of single-use transit cards so that users may receive income tax deductions. Seoul Metropolitan Government began issuing cash receipts for single-use transit cards for Subway Lines 1 through 8 back in January this year, and has just expanded it to Line 9 this December.
Starting with the very first train on Line 9 on December 1 (Tues), users will be able to receive their first cash receipts. Between January and October this year, cash receipts for a total of KRW 870 million (720,000 receipts) in subway fares were issued for single-use transit cards.
(As of October 2015, Units: thousands of receipts, KRW 100 million)
|Category||Single-use Transit Card||Cash Receipt|
|Number of Cards Issued||Cost of Cards Issued||Number of Receipts Issued||Cost of Receipts Issued||Percentage|
|Seoul Metropolitan Rapid Transit Corporation||7,344||87.1||178||2.0||2.3%|
※ Cost of Single-Use Transit Cards Issued: Total cost of single-use transit cards issued, not including the KRW 500 deposit
Cash receipts for single-use transit cards include only the “cost of single-use transit cards issued,” excluding the deposit, which is reimbursed to the customer upon returning the single-use transit card. For instance, even though a passenger pays KRW 1,150 plus a KRW 500 deposit for a subway ride, the cash receipt will be for only KRW 1,150.
Cash receipts for single-use transit cards are issued automatically to those who request a receipt upon purchase. If you would like to receive income tax deductions for the expense of taking the subway, make sure to keep all of your receipts and enter the transaction information on the receipt on the National Tax Service Cash Receipt website (www.taxsave.go.kr). When registering as a user to list cash receipts for income tax deductions, you need to have the information on the receipt, such as the seller’s corporate registration number, amount of money spent, approval number, and the transaction date.