National Tax Service "Year-end Tax Refunds to be Early Paid to Companies by the 18th"

If You Apply for Year-End Tax Refund by the Reporting Deadline of the 10th

The National Tax Service announced on the 5th that it will advance the payment of year-end tax refund for 2024 to support companies and workers striving to secure economic dynamism.

The early refund targets are companies that submit the withholding tax statement and the withholding tax execution status report with a refund application by the 11th, and apply for the year-end tax refund payment. Although the original legal payment date is April 10, payment is scheduled to be made by the 18th.

However, if additional review of the reported content is required or if the report is submitted after the deadline, the appropriateness of the refund will be reviewed and the refund will be paid by the 31st of this month.

The National Tax Service explained that if the tax withheld from the February 2025 salary is settled or prepaid with the company’s funds, the actual date the worker receives the refund may vary depending on the individual company’s fund execution schedule.

If it is difficult to receive the refund through the company due to bankruptcy, closure, or wage arrears, workers can apply directly for the year-end tax refund in writing to the National Tax Service Hometax or the relevant tax office by the 24th. After reviewing the application requirements, the refund will be paid by the 31st of this month.