Upbit reveals year-end tax deduction tips… “Get a cash receipt for the KRW market fee”

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The application for issuance is completed only by entering the mobile phone number

[Blockchain Today Correspondent Han Ji-hye] Upbit has released tips for deduction of income through issuance of cash receipts for fees in the KRW market in time for the year-end settlement season.

Upbit users can receive a cash receipt for the KRW market fee by completing a simple cash receipt issuance registration procedure. Although digital asset transaction fees are not subject to the mandatory issuance of cash receipts, Upbit added a cash receipt issuance function for KRW market fees for the first time among domestic exchanges in April 2019 to provide better service.

The registration method for issuing a cash receipt is very simple. First, log in on the Upbit mobile app or PC and enter only your mobile phone number or business registration number in the cash receipt issuance information registration page on the member information page. If you register only once for the first time, a cash receipt is automatically issued when a fee for selling, buying, or withdrawing occurs in the KRW market.

The subject of cash receipt issuance is limited to the KRW market transaction fee and KRW withdrawal fee, and the coin market transaction fee is not included. The details of issuance of cash receipts can be checked on the National Tax Service website two days after the transaction fee is generated, and are automatically reflected in the year-end tax settlement simplification service. If you enter your mobile phone number incorrectly, you must obtain a transaction history including transaction fee from Upbit for already issued cash receipts and request corrections directly to the National Tax Service.

On the other hand, it is advantageous to register as early as possible to enjoy more tax-saving benefits because it is not possible to issue the details before the registration of cash receipt issuance information.

An official from Dunamu said, “As digital asset investment has become more active, smart investors who receive income deductions by issuing cash receipts for KRW market fees have increased.” I hope that I will be able to receive a richer 13th month’s salary for settlement.”

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