Donations to the Catholic University of Korea Catholic Medical Center are classified as either designated or general contributions and are eligible for tax deductions.
How Tax Benefits Work
Starting January 1, 2025, donation receipts will be issued electronically by the National Tax Service (NTS). Receipts may be obtained directly from the Development Fund Team of the Catholic Medical Center or downloaded via the NTS website. Please note that certain personal information (such as name and resident registration number) is required to ensure accurate receipt issuance.
For inquiries regarding tax benefits : Tel) +82-2-2258-7992~3, 7995~6
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STEP 1
Donation Paymen
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STEP 2
Issuance of Donation Receipt
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STEP 3
For individuals and corporations, donation receipts are automatically reflected in the year-end simplified tax filing system.
Tax Benefit Guide
For tax purposes, donations to the Catholic University of Korea Catholic Medical Center are categorized as designated contributions (Code 10) or general contributions (Code 40).
Comparison of Tax Benefits: Statutory vs. Designated Contributions
| Category | Statutory Contributions | Designated Contributions | |
|---|---|---|---|
| Definition | Contributions made to organizations serving significant public interests, often affiliated with government institutions. | Contributions made to private organizations for designated public-interest purposes. | |
| Legal Basis | • Corporate Tax Act, Article 24 • Income Tax Act, Article 34 |
• Corporate Tax Act, Article 24 • Enforcement Decree of the Corporate Tax Act, Article 39 • Income Tax Act, Article 34 • Enforcement Decree of the Income Tax Act, Article 80 |
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| Eligible Recipients | • Development funds, scholarship funds, research funds, and building funds - Funds used for facilities, education, scholarships, or research at private schools or nonprofit educational foundations. - Funds used for facilities, education, or research at national universities or hospitals operated by private schools. |
• Charitable Funds - Funds designated and publicly announced by the Minister of Economy and Finance for public-interest purposes such as welfare, culture, arts, education, religion, charity, or academic activities. |
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| Tax Benefits | Individuals | Tax credit available up to 100% of earned income. | Tax credit available up to 30% of earned income. |
| Individual Business Owners | Tax credit available up to 100% of business income. | Tax credit available up to 30% of business income. | |
| Corporations | Tax credit available up to 50% of corporate taxable income. | Tax credit available up to 10% of corporate taxable income. | |
| Corporate Example | Example: A corporation with business income of KRW 500 million donates KRW 100 million as a statutory contribution - Deduction limit : KRW 500 million × 50% = KRW 250 million. |
Example: A corporation with business income of KRW 500 million donates KRW 100 million as a designated contribution - Deduction limit: KRW 500 million × 10% = KRW 50 million. |
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