Tax Support to Protect Small Business Owners Struggling Due to Prolonged COVID-19
3-Month Automatic Extension from August to November, Benefiting Around 9,000 Companies
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan Gijang-gun will unilaterally extend the payment deadline for some 'local taxes.'
On the 3rd, Gijang-gun announced that it will extend the reporting and payment deadline for the resident tax business place category from the end of August to the end of November, a 3-month extension, to ease the burden on individual business owners and corporations struggling due to the prolonged COVID-19 situation.
The resident tax business place category is a local tax reported and paid based on the business place located in the local government and its total floor area as the tax base. It was reorganized in 2021 to integrate individual business owners (equalized portion), corporations (equalized portion), and resident tax (property portion) into the business place category.
The reporting and payment deadline is annually from August 1 to 31; however, individual business owners and corporations with business places in Gijang-gun as of July 1, 2021, will have their deadline extended by 3 months to November 30 by Gijang-gun’s unilateral decision without a separate application. As a result, about 9,000 companies are expected to benefit from the deadline extension.
Gijang-gun plans to actively promote this through its website, bulletin boards, and the county newsletter in June and July, and will send deadline extension notices and payment slips to the target businesses in August.
Resident tax reporting can be done by mail, visit, or via Wetax in August, and for further details, inquiries can be made to the Gijang-gun Fair Taxation Division.
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