Namyangju City Accepting Annual Automobile Tax Prepayment Applications in January... Up to 4.58% Discount

Namyangju City in Gyeonggi Province announced on January 14 that it will operate the annual prepayment system for automobile tax from January 16 to February 2.

Namyangju City Hall view. Provided by Namyangju City

The annual prepayment system for automobile tax allows taxpayers to pay the automobile tax, which is normally due in June and December each year, in advance as a lump sum in January and receive a deduction of about 4.58% of the annual tax amount. Applications can also be made in March, June, and September, but the deduction rate decreases depending on the application period, so applying in January provides the greatest tax-saving benefit.

For vehicles that were paid through the annual prepayment system last year, the annual prepayment notice will be sent automatically without a separate application. However, if the prepayment was not completed after application or if a new vehicle has been acquired, a new application must be submitted to receive the benefit.

The tax amount issued after applying for the annual prepayment must be paid by February 2. Payment can be made through various methods, including CD/ATM at all financial institutions nationwide, virtual account, local tax payment ARS, Wetax, Smart Wetax, and Internet Giro.

Applications can be made by visiting or calling the city’s Taxation Division Automobile Tax Team or the relevant Administrative Welfare Center, and online applications are also available through Wetax.

An official from Namyangju City stated, "The annual prepayment system for automobile tax helps alleviate the tax burden for citizens," and encouraged, "We hope you apply by the deadline of February 2 to enjoy the tax-saving benefits."