Miryang-si, Promotion of Corporate Local Income Tax Filing and Payment Month

Electronic Filing Available Through Local Tax Portal Site WETAX

Miryang City in Gyeongnam Province is operating the corporate local income tax filing and payment period for the 2023 fiscal year until April 30.

The corporate local income tax filing targets are profit corporations whose fiscal year ended in December last year, non-profit corporations engaged in income-generating businesses, and foreign corporations with domestic source income. They must file and pay the tax base and tax amount declaration forms along with the required attachments to the competent tax office within four months from the fiscal year-end date, by April 30.

If the required attachments are not submitted or if an apportionment-target corporation fails to apportion and files only with one local government, a non-filing penalty will be imposed, so special attention is required from the corporations subject to filing.

Additionally, for corporate local income tax filings and payments for fiscal years commencing after January 1 last year (2024 filings), if the payable tax amount exceeds 1 million KRW, it can be paid in installments within one month (two months for small and medium enterprises).

Corporate local income tax filing and payment can be conveniently done online using the Hometax system, or by visiting the city hall where the business is located as of the fiscal year-end date, or by postal filing.

Shin Sang-cheol, head of the Tax Division, stated, “We will do our best to promote timely payment of corporate local income tax and facilitate taxpayers’ convenience. We urge taxpayers to file and pay in advance through the National Tax Service’s Hometax system.”