(1) Where a sole proprietor prescribed by Presidential Decree in consideration of the value of supply of goods and services, etc. issues electronic tax invoices by December 31, 2024 (limited to where he or she transmits a list of the issued electronic tax invoices to the Commissioner of the National Tax Service by the deadline under Article 32 (3)), he or she may deduct an amount prescribed by Presidential Decree in consideration of the number of the issued electronic tax invoices, etc. from the amount of tax payable for the value-added tax of the relevant taxable period. In such cases, the limit on deduction shall be one million won per annum. <Amended on Jan. 1, 2014; Dec. 8, 2021>
(2) In applying paragraph (1), if an amount deducted exceeds the amount of tax payable prior to the deduction of the relevant amount [referring to the tax amount computed by the deduction or addition of the tax amount (excluding the penalty imposed under Article 60 of this Act and Articles 47-2 through 47-4 of the Framework Act on National Taxes) that shall be deducted or added under this Act, the Framework Act on National Taxes, and the Restriction of Special Taxation Act from the amount of tax payable under Article 37 (2), and if the tax amount calculated is less than "zero," it shall be deemed "zero"], the portion of such excess shall be deemed zero. <Newly Inserted on Dec. 8, 2021>
(3) Any sole proprietor who intends to obtain a tax deduction under paragraph (1) shall submit a return on tax deduction subsequent to issuance of electronic tax invoices prescribed by Ordinance of the Ministry of Economy and Finance to the head of the tax office having jurisdiction over his or her place of tax payment, when he or she files a return under Articles 48 and 49. <Amended on Jan. 1, 2014; Dec. 8, 2021>