DOI QR코드

DOI QR Code

Improvement Plan for Cash Receipt System

  • Kim, Ki Beom (Department of Business Administration, Mokpo National University) ;
  • Woo, Hyung Rok (Department of Business Administration, Mokpo National University)
  • Received : 2022.07.17
  • Accepted : 2022.07.22
  • Published : 2022.08.31

Abstract

Considering the current situation where cash transactions account for 51.5% of private consumption expenditure, it is very important to secure a tax base by exposing business operators' cash transactions. In the September 2011 national audit, it was pointed out that although a significant part of the investment amount of businesses (VAN operators, etc.) related to the issuance of cash receipts has been recovered, they are still supported through the state tax. At this point in time when a significant amount of the initial investment has been recovered, it is necessary to study a new way to support business operators through methods other than the tax credit method. This study proposes various methods to improve the current cash receipt system and describes the advantages and disadvantages of each method. The most important thing for the improvement of the cash receipt system is that the issuance of cash receipts should be beneficial to business operators. As a result of this study, the most desirable improvement method is to provide differential compensation for the discriminatory cost because the cost is different for each cash receipt operator. For this purpose, we analyze the best way to improve the cash receipt system is a tax credit method and a tax credit for maintenance costs.

Keywords

References

  1. S. Kim, Income Tax Law, Sam-Il Informine, pp. 160, 2022.
  2. S. Park, Value added Tax Law, Sam-Il Informine, pp. 98, 2022. DOI: https://doi.org/10.1016/0165-4101(83)90011-3
  3. C. A. Botosan and M. Stanford, "Managers' motives to withhold segment disclosures and the effect of SFAS No. 131 on Analysts' Information environment," Accounting Review, Vol. 80, pp. 751-771, 2005. DOI: https://doi.org/10.2308/accr.2005.80.3.751
  4. P, Berger and R, Hann, "Segment disclosures, proprietary costs, and the market for corporate control," Working paper, University of Chicago and University of Southern California. pp. 69, December, 2002. DOI: http://dx.doi.org/10.2139/ssrn.357780
  5. P, Berger and R, Hann, Segment profitability and the proprietary and agency costs of disclosure," The accounting review, Vol. 82, No. 4, pp. 869-906, 2007. DOI : http://dx.doi.org/10.2139/ssrn.436740
  6. N. Lee, "A study on the effect of introducing the cash receipt system," Finance Journal, Vol. 10, No. 4, pp. 54-89, 2017.
  7. E. Koh, "A study on the economic feasibility of the cash receipt system," Journal of Accounting Research, Vol. 34, No. 2, pp. 261-279, 1996. DOI: https://doi.org/10.2307/2491502
  8. H.J. Jun and T.S. Kim, "Economic spillover effects of e-receipts in South Korea," Journal of Information Technology Services, Vol. 17, No. 2, pp. 35-47. 2018. DOI: https://doi.org/10.9716/KITS.2018.17.2.035
  9. Y. Kim, "A Study on the problem of cash receipt system in Tax Law," Tax and Accounting Journal, Vol. 10, No. 1, pp. 128-167, 2009.
  10. E. Koh and H. Song, "The Effect of the cash receipt system on preventing tax evasion from consumers' perspective (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, Vol. 24, No. 1, pp. 99-126, March. 2018