Hampyeong-gun to Fully Exempt 'Resident Tax Individual Portion' This Year to Overcome COVID-19

Tax System Reform... Unified Payment Deadline in August and Simplification of Tax Items

[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Hampyeong-gun, Jeollanam-do announced on the 29th that it will fully exempt the individual resident tax of 11,000 KRW imposed on each household head this year.

This measure is being promoted to boost the morale of residents who are experiencing difficulties due to the continued decline in tourists and consumption caused by the COVID-19 pandemic and to reduce their tax burden.

The exemption scale amounts to about 154 million KRW for 14,000 cases of individual resident tax and will be applied only once to the individual resident tax scheduled to be imposed in August.

Also, from this year, the resident tax taxation system imposed on business owners will be conveniently integrated and reorganized centered on taxpayers.

According to the reorganization plan, the resident tax "property portion" reported and paid in July and the resident tax "equal portion" imposed in August will be integrated into the resident tax "business place portion," and business owners will report and pay in August.

The county plans to send payment notices to resident tax business place portion taxpayers in early August to minimize confusion among taxpayers due to this reorganization.