Union accounting must be disclosed for union dues tax credit... Disclosure system to open next month

Deliberation and Resolution of the Cabinet Meeting on the Enforcement Decree of the Labor Union Act

The Enforcement Decree of the Labor Union and Labor Relations Adjustment Act, which grants tax credit benefits on union dues only to unions that disclose their accounting, passed the Cabinet meeting on the 19th.

Previously, the Ministry of Employment and Labor re-announced the amendment to the enforcement decree of the Labor Union Act containing this content. The Ministry explained, "Although it was originally scheduled to be implemented from January 1 next year, considering the importance and urgency of strengthening the transparency of union accounting, and to meet the expectations of union members and the public for transparent union accounting operations, the implementation of the system has been advanced earlier than originally planned."

Workers who pay union dues receive a tax credit of 15% of the donation amount. If the donation exceeds 10 million won, a 30% tax credit is applied.

If a labor union (or its subordinate organization) and its higher-level organization disclose the 2022 settlement results on the labor union accounting disclosure system by November 30, under the simultaneously amended Enforcement Decree of the Income Tax Act, union members will receive tax credit benefits for union dues paid to the union from October to December this year. Union dues paid from January to September this year will receive tax credits regardless of disclosure.

As of the end of last year, subordinate organizations of unions with fewer than 1,000 members do not need to disclose separately; if their higher-level organization discloses, they can receive tax credit benefits.

The labor union accounting disclosure system, where unions disclose their settlement results, is scheduled to open on the 1st of next month. Unions and subordinate organizations can disclose the 2022 settlement results on the disclosure system during the two months from October 1 to November 30.

At the Cabinet meeting on the same day, the Enforcement Decree of the Act on the Promotion of Employment of Disabled Persons and Vocational Rehabilitation, and the Enforcement Decree of the National Technical Qualifications Act were also deliberated and resolved. From now on, the obligation for about 30,000 businesses required to employ disabled persons to report their disabled employment plans and implementation status will be reduced from twice a year to once a year. Additionally, to train personnel responsible for visualizing information inside and outside companies using charts and graphs, the 'Management Information Visualization Ability' test has been added to the national technical qualifications.

This content was produced with the assistance of AI translation services.