Article 118-8 (Scope of Businesses Engaging in Good-Faith Business)

The term "business operator who meets the requirements prescribed by Presidential Decree, such as reporting business accounts" in Article 59-4(9)(ii)(a) of the Act refers to a business operator who meets all of the following requirements. <Amended by Feb. 17, 2021, Dec. 30, 2025> 1. Shall be a business operator falling under any of the following subcategories: a. A business operator who has joined as both a credit card merchant and a cash receipt merchant pursuant to Articles 162-2 and 162-3 of the Act. Provided, That business operators who have received notification of such fact from the head of the competent tax office pursuant to the latter part of Article 162-2(4) or the latter part of Article 162-3(6) for violating Article 162-2(2), Article 162-3(3), or Article 162-3(4) of the Act during the relevant taxable period shall be excluded. b. A business operator who has introduced enterprise resource planning facilities or point-of-sale information management system facilities pursuant to the Distribution Industry Development Act, or other business operators prescribed by a decree of the Minister of Economy and Finance. 2. Shall keep and record books pursuant to Article 160(1) or (2) of the Act, and report the calculated income amount accordingly (Provided, That the relevant taxable period shall be excluded in cases where a deemed assessment is made pursuant to the proviso of Article 80(3) of the Act). 3. Shall report business accounts pursuant to Article 160-5(3) of the Act, and use at least two-thirds of the amount that should be used for business accounts pursuant to Article 160-5(1) of the Act during the relevant taxable period.