"Providing Maximum Support Including Payment Deadline Extensions for Struggling Small and Medium Enterprises"

On-site Communication Meeting at Osong Life Science Complex

[Asia Economy Sejong=Reporter Joo Sang-don] Kim Chang-gi, Commissioner of the National Tax Service, stated on the 8th, "We will provide maximum support for cash liquidity to small and medium-sized enterprises (SMEs) facing business difficulties due to the economic downturn by early payment of tax refunds, extension of payment deadlines, and exemption from tax payment guarantees."

On this day, Commissioner Kim visited the Osong Bio Science Complex and held an on-site communication meeting, where he made these remarks. The meeting was organized to meet with representatives of SMEs manufacturing pharmaceuticals, medical devices, and cosmetics to identify tax-related inconveniences and explore tax and tax administration support measures.

At the meeting, the National Tax Service explained the major tax administration support measures currently being promoted to support economic recovery and enhance private sector vitality.

The National Tax Service prioritizes processing pre-assessments requested by companies eligible for research and personnel development tax credits in new industry sectors such as bio, secondary batteries, and eco-friendly mobility, as well as restructuring companies and export SMEs, to support smooth business operations. Additionally, the National Tax Service provides tax consulting on corporate tax credits and exemptions to all SMEs to resolve tax uncertainties and support growth.

The company representatives attending the meeting proposed ▲ expanding tax benefits for companies increasing employment ▲ easing requirements for business succession ▲ improving the corporate tax interim payment system for SMEs ▲ deferral or exemption of tax audits for bio companies.

In response, Commissioner Kim said, "We will carefully review these proposals to reflect them in tax administration through consultations with relevant ministries," adding, "We will continue to visit industrial sites to resolve tax difficulties and strive to prepare practical support measures."

Kim Chang-ki, Commissioner of the National Tax Service, is speaking at the on-site communication meeting held at Osong Bio Science Complex on the 8th.