(1) Where a domestic corporation (excluding a corporation prescribed by Presidential Decree) falls under any of the following cases, it shall pay a penalty tax equivalent to any of the following amounts, in addition to corporate tax: <Amended on Dec. 31, 2019>
1. Where it fails to submit aggregate invoices for each supplier or purchaser in Article 120-3 (1) by the deadline in the same Article or all or some matters to be stated, as prescribed by Presidential Decree, on the aggregate invoices for each supplier or purchaser issued under Article 121 (1) or (2) are not stated thereon, or are falsely stated (excluding the portions to which subparagraph 4 shall apply): 5/1,000 of the supply value;
2. Where all or some matters to be stated, as prescribed by Presidential Decree, on the invoice issued under Article 121 (1) or (2) are not stated thereon, or are falsely stated (excluding the portions to which subparagraph 3 shall apply): 1/100 of the supply value;
3. Where an aggregate tax invoice for each supplier referred to in Article 121 (5) is not submitted by the deadline specified by the same Article or where all or some matters to be stated, as prescribed by Presidential Decree, are not stated or are falsely stated on such aggregate tax invoice for each supplier (excluding the purchase price for the portion to which subparagraph 4 shall apply): 5/1,000 of the supply value;
4. In any of the following cases: 2/100 of the supply value (applicable rate shall be 1/100, where any invoice other than an electronic invoice has been issued, although no electronic invoice was issued pursuant to the latter part of Article 121 (1), and where an invoice has been issued pursuant to Article 121 (1) or (2) by the 25th day of the month immediately following the end of the business year in which the relevant goods or services were supplied, after the deadline for issuing an invoice under Article 121 (8)):(a) Where a person who has supplied goods or services fails to issue an invoice under 121 (1) or (2) by the deadline for issuing the invoice under Article 121 (8);(b) Where a person who has supplied goods or services fails to issue a credit card sales slip in Article 116 (2) 1, cash receipt in Article 116 (2) 2 and invoice in 121 (1) or (2) (hereafter in this subparagraph, referred to as "invoice, etc.");(c) Where a person receives an invoice or other similar document issued for goods or services that have not been supplied;(d) Where a corporation that has actually provided goods or services issues an invoice, etc., under the name of a corporation that has not provided goods or services;(e) Where an invoice or other similar document is issued for goods or services received in the name of a person, other than the supplier of goods or services;
5. Where a detailed statement of electronic invoices issued is transmitted to the Commissioner of the National Tax Service by the 25 day of the month immediately after the end of the business year in which goods or services were supplied after the deadline specified in Article 121 (7) (excluding the portion to which subparagraph 4 shall apply): 3/1000 of the supply value (1/1000 shall apply to the goods or services supplied on or before December 31, 2016);
6. Where a detailed statement of electronic invoices issued is not transmitted to the Commissioner of the National Tax Service by the 25th day of the month immediately after the end of the business year in which goods or services were supplied after the lapse of the deadline specified in Article 121 (7) (excluding the portion to which subparagraph 4 shall apply): 5/100 of the supply value (Provided, 3/1000 shall apply to the goods or services supplied on or before December 31, 2016).
(2) The penalty tax in any subparagraph of paragraph (1) shall not apply to the portion to which a penalty tax in Article 75-5 or Article 60 (2), (3), and (5) through (7) of the Value-Added Tax Act applies.
(3) The penalty tax in paragraph (1) shall be collected although the calculated amount of tax is nil.[This Article Added on Dec. 24, 2018]