According to the policy, an income earner may claim a tax deduction on cultural expenses under a total of KRW 1 million a year, including books, public performances, and admissions to museums and galleries.
■ Legal basis: Article 126-2 of Restriction of Special Taxation Act, partially revised (Amended by Act No. 15227, Dec. 19, 2017)
■ Content: Income deduction for the amount spent on credit cards according to the policy for tax deduction on cultural expenses
※ If an income earner with a yearly income under KRW 70 million spends more than 25% of yearly income, the resident is entitled to deduct an amount (referred to as ""income deduction for credit cards, etc.""), calculated by the formula, from the amount of his or her earned income for the relevant taxable year.
※ Customer center for tax deduction on cultural expenses: 1688-0700
※ Culture Portal: www.culture.go.kr/index.do