Article 48 (Receipt Period of Business Income)

The receipt period of business income shall be the day determined by the following subparagraphs. <Amended by Act No. 9489, Dec. 31, 1997, Act No. 9557, Apr. 1, 1998, Act No. 9700, Dec. 31, 1998, Act No. 10333, Dec. 30, 2002, Act No. 10662, Dec. 30, 2003, Act No. 10705, Feb. 22, 2008, Act No. 10778, Feb. 29, 2008, Act No. 11639, Feb. 4, 2009, Act No. 11922, Feb. 18, 2010, Act No. 12211, Dec. 30, 2010, Act No. 13940, Feb. 17, 2016, Act No. 15313, Feb. 13, 2018, Act No. 17809, Dec. 30, 2025, Act No. 18061, Feb. 27, 2026> 1. Sale of goods (excluding real estate in the case of building construction business and real estate development and supply business), products, or other manufactured goods (hereinafter referred to as "goods, etc."): The day the goods, etc. are delivered. Provided, That in the case of conditional sales with return, conditional sales with consent, other conditional sales, and sales with a fixed term, it shall be the day when the condition is fulfilled or the term expires and the sale is confirmed. 2. Trial sales of goods, etc.: The day the other party expresses their intention to purchase. Provided, That if the sale is confirmed by special agreement or custom within a certain period, it shall be the expiration date of such period, unless the goods are returned or the intention to refuse is expressed within that period. 3. Consignment sales of goods, etc.: The day the consignee sells the consigned goods. 4. Sale of goods, etc. under long-term installment payment terms prescribed by the Ministry of Economy and Finance: The day the goods, etc. are delivered. Provided, That if income and corresponding necessary expenses are calculated for the tax period to which the day of receipt or agreed receipt under such long-term installment payment terms belongs, it shall be the day of receipt or agreed receipt under such long-term installment payment terms. In this case, any amount received or to be received prior to the delivery date shall be deemed to have been received on the delivery date, and if the business is closed during the long-term installment payment period, the amount not included in the gross revenue as of the closing date and the corresponding expenses shall be included in the gross revenue and necessary expenses of the tax period to which the closing date belongs. 5. Provision of construction, manufacturing, or other services (including contract work and advance sales; hereinafter referred to as "construction, etc." in this subparagraph): The day the services are completed (in the case of delivery of an object, the day the object is delivered). Provided, That if the contract period is 1 year or longer and is prescribed by the Ministry of Economy and Finance, it shall be based on the work progress rate prescribed by the Ministry of Economy and Finance (hereinafter referred to as "work progress rate"), and if the contract period is less than 1 year and is prescribed by the Ministry of Economy and Finance, it may be based on the work progress rate. 6. Deleted <Dec. 31, 1998> 7. Sales by automatic vending machines: The time when the business operator withdraws cash from the automatic vending machine. 8. Provision of personal services: The earlier of the day the service fee is to be received or the day the services are completed. Provided, That in the case of entertainers, professional athletes, etc. receiving payment at once for a non-transferable exclusive contract exceeding one year, the amount evenly distributed according to the contract period shall be deemed to have been received on the last day of each tax period, and the calculation of months shall be one month if the month in which the commencement date of the contract period falls is less than one month, and shall not include the month in which the expiration date of the contract period falls if it is less than one month. 9. Deleted <Dec. 31, 1998> 10. Discounting of bills: The maturity date of the bill. Provided, That if the bill is transferred before maturity, it shall be the date of transfer. 10의2. In the case where a discount on present value is calculated at present value according to the accounting standards for corporations for a claim arising from the sale or transfer of assets under long-term installment payment terms, etc. as prescribed in subparagraph 4, the amount equivalent to the discount on present value shall not be included in the gross revenue of the tax period in which it was calculated, and the amount that has been or will be recognized as income according to the accounting standards for corporations during the collection period of the claim shall be included in the gross revenue of each tax period. 10의3. Interest and discounts arising from financial and insurance businesses under the Korean Standard Industrial Classification: The day actually received. 10의4. In the case of income arising from leasing assets or establishing servitudes or superficies, the day according to the following classifications: a. Those with a payment date determined by contract or custom: The determined date. b. Those with no payment date determined by contract or custom: The day the payment is received. c. Rent equivalent amounts corresponding to past periods that the owner, etc. is to receive due to a judgment or settlement concerning a lease agreement or establishment of a servitude or superficies (excluding litigation concerning claims for unpaid rent and unpaid fees for the establishment of servitudes or superficies) (including overdue interest and other damages): The day the judgment or settlement occurs. Provided, That in the case of litigation concerning rent, for amounts deposited to pay the rent, the date as prescribed in item a shall apply. 11. Sale of assets not falling under subparagraphs 1 through 10 and 10의2 through 10의4: The day the payment is settled. Provided, That if ownership, etc. is registered or recorded, or the asset is used or profits are derived therefrom before the payment is settled, it shall be the date of registration, recording, or date of use or derivation of profit.