Gyeonggi-do Imposes 373.9 Billion KRW in Vehicle Tax from July to December This Year... 3.9% Increase YoY

Gyeonggi Provincial Government

Gyeonggi Province has imposed 373.9 billion KRW in the second installment of automobile tax this year. This amount is an increase of 14.1 billion KRW (3.91%) compared to the same period last year.

Looking at the automobile tax amounts imposed, Hwaseong-si has the highest at 32.9 billion KRW, followed by Suwon-si with 32.7 billion KRW, and Yongin-si with 30.3 billion KRW.

Automobile tax is imposed twice a year on the owners registered in the vehicle registry as of the tax base dates, June 1 and December 1 each year. The second installment of automobile tax imposed this time is the tax for vehicle ownership from July 1 to December 31, 2023.

For taxpayers who newly register, transfer, or deregister vehicles during the tax period, the tax is calculated on a pro-rata basis according to the ownership period.

Also, taxpayers who have prepaid the annual automobile tax (in January, March, June, and September) are not subject to this tax.

The payment period is from the 16th of this month until January 2 of next year. Payments can be made at all financial institutions nationwide or through platforms such as Wetax, Internet Giro, virtual accounts, and automated machines (CD/ATM).

Choi Won-sam, Director of Taxation at Gyeonggi Province, stated, "Local taxes are valuable resources used for the development of Gyeonggi Province and the improvement of residents' lives," and urged, "Please make payments within the deadline to avoid disadvantages such as additional charges or seizure due to delinquency."