940918에 대한 정보를 알려줘
The information provided pertains to tax and legal matters. Specifically, it discusses the tax implications for individuals classified under industry code 940918, which primarily covers delivery riders and quick service personnel.
Key Information Regarding Industry Code 940918:
Definition: This code applies to individuals who use vehicles like motorcycles to deliver food or goods as per orders received through delivery platforms or agencies. It is distinct from general cargo movers (940919) or beverage delivery personnel (940907).
Tax Benefits: Industry code 940918 offers a higher simple expense ratio (79.4%) compared to other codes like 940909 (64.1%). This means a larger portion of income can be recognized as deductible expenses, leading to a lower taxable income. For instance, with an income of 10 million KRW, approximately 7.94 million KRW can be considered as expenses, leaving only 2.06 million KRW as taxable income.
Importance of Correct Classification: It is crucial for delivery riders and quick service personnel to ensure their income is reported under the correct industry code (940918). Misclassification, especially if a different, less advantageous code is used, can result in higher tax liabilities. It is advisable to verify the industry code used by the platform or agency and request correction if it is inaccurate.
Income Reporting: While income is often reported with a 3.3% withholding tax, it's important to be aware that some platforms might not report all income, or income might be received without withholding. All income, regardless of how it's received, must be declared during the comprehensive income tax filing period.
Tax Filing Thresholds: For individuals earning less than 36 million KRW annually, approximately 80% of their income can be treated as expenses due to the simple expense ratio. This significantly reduces the taxable income. For incomes between 36 million and 75 million KRW, using a simplified ledger or the standard expense ratio is recommended, though a tax professional's advice is beneficial. For incomes exceeding 75 million KRW, complex bookkeeping (복식부기) is required, necessitating professional assistance.
Comprehensive Income Tax Filing for Delivery Riders:
- Requirement: If you work as an independent contractor (receiving pay after 3.3% withholding) for delivery platforms, you are generally required to file a comprehensive income tax return.
- Tax Refunds: Many delivery riders are eligible for tax refunds because the 3.3% withholding tax paid throughout the year may exceed the actual tax liability calculated after considering expenses and deductions. Filing a comprehensive income tax return allows you to claim these overpaid taxes back.
- Exemption: If you are a full-time employee with 4 major insurances (4대 보험) at a local delivery agency and have no other income, you might not need to file a separate comprehensive income tax return.
