KakaoBank has introduced a service that allows users to receive tax deductions and local specialty gifts simultaneously through the 'Hometown Love Donation System' ahead of the year-end tax settlement season.
On November 10, KakaoBank announced the launch of this service in partnership with its affiliate, Wello.
The Hometown Love Donation System enables individuals to donate to local governments outside their registered residence, receiving tax deductions and gifts worth up to 30% of their donation. For a $100 donation, users can benefit from a full tax deduction and receive gifts valued at up to $30, totaling $130 in benefits.
Users can check gift options by local government on the KakaoBank app and select their preferred items. Donations are processed through KakaoBank's 'Tax and Utility Payment' service, with Wello managing the service operations.
This service marks the second collaboration between the two companies, following the launch of the 'Finding Government Support Funds' service in September last year. As of the end of October this year, the service has surpassed 1.3 million registered users.
A KakaoBank representative stated, "We have developed this service to help users take advantage of tax deduction benefits while contributing to the revitalization of local economies. We will continue to expand various everyday services that customers can feel in their daily lives."
* This article has been translated by AI.
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