Business Owners Must Apply for Income Deduction by End of June
Starting July 1, the "Sports Facility Usage Fee Income Deduction" will be implemented, allowing wage earners with an annual income of 70 million won or less to receive a 30% income deduction on gym and swimming pool usage fees, up to a limit of 3 million won. Previously, the cultural expense income deduction applied to books, performances, museums, art galleries, newspapers, and movies, but it will now be expanded to include sports facilities such as gyms and swimming pools.
The Ministry of Culture, Sports and Tourism announced on April 24 that, together with the Korea Culture Information Service Agency, it will hold a total of 10 regional briefing sessions on the "Sports Facility Usage Fee Income Deduction System" starting on April 26 in Seoul (Samgyeong Education Center), and continuing in the Gyeonggi, Gangwon, Chungcheong, Gyeongsang, and Jeolla regions.
Business owners who wish to apply the sports facility usage fee income deduction must apply through the "Cultural Expense Income Deduction" website, operated by the Korea Culture Information Service Agency under the Ministry of Culture, Sports and Tourism, by the end of June. The ministry will hold nationwide briefing sessions for gym and swimming pool business owners, following Seoul with Suwon in Gyeonggi (April 27), Wonju in Gangwon (April 28), Daejeon in Chungcheong (April 30), Busan in Gyeongsang (May 8), and Gwangju in Jeolla (May 11), to guide business owners on how to apply for participation by May.
Pre-registration for the briefing sessions can be made online or via the QR code provided on posters. The first 50 pre-registrants will receive a coffee voucher as a gift. On-site registration will also be available on the day of the event, and after the briefing session, prizes worth a total of 500,000 won will be awarded through a lucky draw.
Detailed information on the briefing sessions and how to participate in the income deduction program can be found on the "Cultural Expense Income Deduction" website and through the customer service center.
A policy official from the Ministry of Culture, Sports and Tourism stated, "Gym and swimming pool business owners nationwide must apply by the end of June in order to benefit from the facility usage fee income deduction starting in July," and added, "The ministry will strengthen cooperation with related associations such as the Korea Gym Management Association and the Korea Swimming Pool Management Association, and will actively promote the program through online communities and social media channels frequently used by industry stakeholders to maximize business owner participation."
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