## The English you can speak, 29 March 2010

When you buy something in cash in Korea, you can get something that's called a "cash receipt." It's similar to a regular receipt except that the transaction is reported to the National Tax Service. The whole point of the system is to document your expenses for when you file your taxes. It also helps the tax authorities to keep track of cash transactions more transparently. It has the same effect of using a credit card or a debit card. In order to make use of this system, you have to sign up your name with the National Tax Service, letting them know your resident registration number and cell phone number. Every time you make a cash transaction, you give the store either of the numbers. If you don't want to do this, you can get a "cash receipt card" issued and use that instead.

# My opinion 
The "cash receipt" system is more complicated than using a credit card.  Because I have to hand the money and cash receipt card to the clerk or tell him/her my phone number in order to report my expenses to the tax authorities.  If I buy an expensive thing, which is more than one million won such as a camera or a bicycle, the cash is too much to fit into my wallet.  I prefer paying with a credit card which only requires my signature.  Some people think using cash receipts can make the economy more transparent.  I don't know exactly if it will or not.  The whole point of using the system when paying in cash or in credit card is to get tax benefits at the end of the year. In order to get a larger tax refund, my mother and sister also used my cash receipt card. At the end of the last year, I was surprised at how much money I spent. After the year-end tax adjustment, I got a tax refund which we called my "13th salary."  It was about three hundred thousand won in last year and I split the money three ways.  I think there only few people at my place of work who got a tax refund.  In addition, I don't like to hold a heavy wallet.  So, I just carry on two credit cards, a driver's license and some money in my wallet. 

# A receipt is a piece of paper that you get from someone as proof that they have received money or goods from you. In British English a receipt is a piece of paper that you get in a shop when you buy something, but in American English the more usual term for this is sales slip.
# A transaction is a piece of business, for example an act of buying or selling something.
# If a situation, system, or activity is transparent, it is easily understood or recognized.

# Extra Topics for Study Groups
1. Do you get cash receipts every time you pay with cash?
2. What are the benefits of using the cash receipt system in Korea?
3. Which do you use more often, cash or credit card?
Posted by 아침형라이더