Tax Filing and Payment Relief During Chuseok Holiday... National Tax Service Extends Deadlines for Withholding and Securities Transaction Taxes

The National Tax Service announced on September 8 that, in order to alleviate taxpayer inconvenience during this year's Chuseok holiday period, it will extend the deadlines for filing, payment, and submission related to national taxes for September by five days, from October 10 to October 15.

This extension was decided by the National Tax Service as an active administrative measure, based on the Framework Act on National Taxes and the National Tax Collection Act. The extension applies to the following tasks, which normally have a deadline of the 10th of each month: filing and payment of withholding tax, filing and payment of securities transaction tax, payment of stamp tax, submission of pension commencement and termination statements, and filing and payment of income-contingent loan (ICL) withholding for student loans after employment.

The extended deadline of October 15 was set to avoid confusion between the filing and payment for September and October, taking into account that the electronic system for October withholding tax will open on October 16. This extension will remain in place even if there are future changes to the holiday period. In addition, the issuance deadline for electronic (tax) invoices for September will also be extended from October 10 to October 15, and the transmission deadline will be extended from October 13 to October 16.

An official from the National Tax Service stated, "We hope that this deadline extension will provide sufficient time for the completion of filing, payment, and submission tasks, and help everyone enjoy a stress-free Chuseok holiday."