Suncheon City Offers Vehicle Tax Prepayment Program with 5% Tax Savings

Tax Deduction for Paying a Year’s Vehicle Tax by February 2

Suncheon City, "Pay Your Vehicle Tax Early and Enjoy a 5% Tax Savings Benefit." Photo by Suncheon City

Suncheon City announced that it is accepting applications for the annual vehicle tax prepayment program, which allows residents to pay a year's worth of vehicle tax in advance by February 2 and receive a tax deduction.

Vehicle tax is a local tax that is typically paid twice a year, in June and December. However, if the annual amount is paid in advance in January, the city offers a program that provides a 5% deduction on the tax amount for the remaining period (February to December).

This year, the application deadline is February 2. Applications can be made by phone or through the Wetax system. Payment can be completed by transferring funds to a virtual account or using an electronic payment number after receiving the bill, or by credit card, Wetax, or visiting a bank.

For vehicles that were enrolled in the prepayment program last year, if there has been no change in ownership, the city automatically sends the annual prepayment bill each year without requiring a separate application. If you move to another city or county after prepaying, the vehicle tax will not be charged again. If you sell or scrap the vehicle, the vehicle tax for the remaining period will be refunded.

A city official emphasized, "Even if you apply for the prepayment program, if you do not make the payment by February 2, your application will be canceled and you will lose the tax savings benefit, so please make sure to meet the payment deadline."