Gokseong-gun Urges Payment of Corporate Local Income Tax by the 4th of Next Month

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Gokseong-gun, Jeollanam-do, urged corporations to file and pay local corporate income tax by the 4th of next month.

According to Gokseong-gun on the 6th, domestic corporations and foreign corporations with domestic business establishments must file and pay local corporate income tax on all income generated during the business year within four months from the end of the business year.

The tax base is the same as corporate tax, and the tax amount is calculated by applying the rates, amounts, deductions, and exemptions prescribed by the Local Tax Act.

In particular, if a corporation subject to apportionment fails to apportion and files only with one local government or fails to submit the required documents, a 20% non-filing penalty tax will be imposed on the remaining business establishments, so caution is required.

The payment target is corporations with fiscal year ending in December 2019, and payment can be made electronically through Hometax without visiting the institution.

A county official said, “We will strengthen promotional activities so that taxpayers can file and pay electronically through Hometax accurately and conveniently.”

He added, “Furthermore, we will do our best to provide tax administration support such as extension of payment deadlines and facilitate tax payment for corporations that have suffered significant losses or are in serious crisis due to COVID-19.”