Year-end settlement, which is called the ’13th month’s salary’, has begun. The year-end tax settlement simplification service was launched on the 15th, and the average refund this year is expected to exceed 650,000 won per person.
From this year, the ‘simplified data package provision service’, in which the National Tax Service delivers data directly to the company, will be implemented without requiring workers to prepare data individually.
According to the service opening, data can be inquired from today. However, if there are additional submitted or revised data by the receipt issuing agency, the final confirmed data reflecting this will be provided from the 20th.
The data that can be inquired in the simplified service are the amount of national pension insurance premiums paid, the amount of repayment of the principal and interest of the housing rental, the amount of credit card/debit card/cash receipt used, the amount paid into the retirement pension account, the amount paid for protection-type insurance premiums, the amount of medical expenses paid to medical institutions, Elementary, middle, high school and university education expenses, etc.
From this year, electronic payment receipts can be viewed in Simplified Materials. Donors can electronically issue donation receipts through Hometax, so donors do not need to submit separate receipts.
In addition, data on long-term care benefit co-payments for elderly long-term care institutions that have closed their business are provided. Data on ‘medical loss medical insurance’, which was previously provided to beneficiaries, are provided to patients.
Some of the data provided by the simplified service may not be inquired as they are voluntarily submitted by the submitting organization. Eyesight correction glasses/contact lens purchase cost, hearing aid/disabled protection device/medical equipment purchase cost, credit recognition (self-education degree) education expenses paid, preschool children’s academy/physical facility education costs paid, special education costs for the disabled, electronic subsidy issuance Other than the amount, data on the amount of donations, etc.
Data on income and tax credit items that are not inquired in the simplified service can be submitted to the company by the employee after receiving a receipt from the receipt issuing agency.
If medical expense data is not inquired, it can be reported at the ‘Unreported Medical Expense Report Center’ of Hometax or Sontax from the 15th to the 17th.
From this year’s year-end tax settlement, there has also been a ‘batch provision service’ in which the National Tax Service directly provides the simplified data to the company after obtaining individual consent.
Workers of the company that applied for the service must go through the verification process with the National Tax Service by next Wednesday, and at this time, they can delete the contents they do not want to give to the company. However, as it is the first year of implementation, some companies say they will use it from next year, so this year, only a portion of the 20 million people eligible for year-end tax settlement will use the lump-sum service.
The tax deduction rate for donations will increase by 5 percentage points only for this year’s year-end settlement. In addition, if the amount of credit card usage is more than 5% compared to last year, additional income deduction is available. This system will be expanded further this year.
In addition, from this year, private certificates will be available. As simple authentication methods, Naver and Shinhan Bank have been newly added in addition to KakaoTalk and Samsung Pass.
On the other hand, the year-end tax refund amount is expected to increase year by year, and it is expected to exceed 650,000 won per person on average this year. This is because the total earned income increases every year, and the amount of tax paid in advance and the amount of refund for it also increases.
The average year-end tax refund per person in 2016 was 510,000 won, but the amount attributable to each person in 2020 has increased steadily, exceeding 630,000 won per person.
[조성신 매경닷컴 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]