Article 122-4 (Tax Credit for Increase in Revenue of Gold Dealers and Scrap Dealers, etc.)

A gold dealer (limited to a business that supplies or intends to supply products under Article 106-4(1)3, or a business that imports such products) or a scrap dealer, etc. may, when filing a tax return, choose one of the following and deduct the amount from income tax or corporate tax for the relevant tax year until the tax year ending on December 31, 2023, if the gross income and expenses by place of business reported in the tax return (hereinafter referred to as "gross income and expenses" in this paragraph) include gross income and expenses paid or received using a gold transaction account or a scrap transaction account, etc. under Article 106-4 or Article 106-9 (hereinafter referred to as "gross income and expenses paid by purchaser" in this paragraph). In this case, the amount of the tax credit shall be limited to the amount obtained by deducting the comprehensive income tax or corporate tax for the immediately preceding tax year from the comprehensive income tax or corporate tax for the relevant tax year. <Amended by Act No. 12941, Dec. 23, 2014, Act No. 13605, Dec. 15, 2015, Act No. 14474, Dec. 20, 2016, Act No. 16077, Dec. 24, 2018, Act No. 18632, Dec. 28, 2021> 1. If the sum of the gross income and expenses paid by purchaser by place of business reported in the tax return exceeds the sum of the gross income and expenses paid by purchaser for the immediately preceding tax year, an amount calculated by multiplying the comprehensive income tax or corporate tax by the ratio that an amount equivalent to 50 percent of the excess amount (limited to the increase in the sum of gross income and expenses by place of business) accounts for in the sum of gross income and expenses. In this case, if there is no sum of the gross income and expenses paid by purchaser for the immediately preceding tax year, the sum of the gross income and expenses for the immediately preceding tax year shall be deemed to be the sum of the gross income and expenses paid by purchaser for the immediately preceding tax year. 2. An amount calculated by multiplying the comprehensive income tax or corporate tax by the ratio that an amount equivalent to 5 percent of the sum of the gross income and expenses paid by purchaser by place of business reported in the tax return accounts for in the sum of gross income and expenses.

A person who intends to receive the tax credit under paragraph ① shall apply for the tax credit in accordance with the provisions of Presidential Decree.