Gwangju Mayor Bang Se-hwan Supports Local Tax Reduction for Temporary Structures Damaged by Heavy Snowfall

Gwangju City, Gyeonggi Province (Mayor Bang Se-hwan) announced on the 6th that it will actively promote local tax reduction support for businesses and citizens who suffered damage to temporary structures and other properties due to the record-breaking heavy snowfall from the 26th to the 28th of last month.

Gwangju City Hall view. Provided by Gyeonggi Gwangju City

Under this local tax reduction support, acquisition tax will be exempted within the scope not exceeding the previous area when reconstructing or repairing temporary structures damaged or destroyed by the heavy snowfall within two years from the date of destruction or damage. Additionally, registration license tax will be exempted for related building permits and licenses.

Gwangju City plans to collaborate with the building permit department and disaster department to provide prompt and active tax support without requiring separate submission of damage documents once the damage is confirmed, ensuring swift tax assistance for affected citizens.

Mayor Bang Se-hwan stated, “We will do our best to reduce the financial burden on citizens and businesses affected by this heavy snowfall and provide opportunities for recovery through tax reductions and other support.”