Korea Tax Accounting Technician Level 2 (TAT 2급) common mistakes
Korea Tax Accounting Technician Level 2 (TAT 2급) · Understand the traps and how to avoid them.
Recording every payment as current expense
Payments can acquire assets, settle liabilities or relate to a future period.
What to do instead
Identify the transaction’s substance and recognition period.
Confusing depreciation with a market-price decline
Depreciation is an allocation under an accounting model rather than direct measurement of market value.
What to do instead
Use the stated method, life and residual value.
Forcing a reconciliation without evidence
An unsupported entry conceals rather than resolves the difference.
What to do instead
Trace the records and document a supported correction.
Assuming an allowance is exempt because of its label
Eligibility can depend on statutory conditions and the particular facts.
What to do instead
Check the applicable rule and supporting evidence.
Calling monthly withholding the final annual liability
Settlement and other applicable circumstances can produce a different final tax amount.
What to do instead
Reconcile under the actual annual rules.
Subtracting a credit directly from income
A credit and an income deduction operate at different stages of the calculation.
What to do instead
Apply each at its proper stage.
Equating zero rating and exemption
The consequences for the supplier and input tax can differ.
What to do instead
Identify the actual transaction category and applicable recovery rule.
Recovering all tax appearing on invoices
The business use, evidence and statutory exclusions still matter.
What to do instead
Assess eligibility before including an input amount.
Treating an unexplained ledger change as an invoice correction
A correction needs the actual relevant event and proper documentary basis.
What to do instead
Trace the original transaction and apply the applicable correction procedure.