'Temporary Suspension of Increased Tax on Multiple Homes Ends May 9... Use Tax Simulation and Self-Diagnosis Services'

National Tax Service to Operate Dedicated Filing and Consultation Counters
Consultations Also Available at the National Tax Consultation Center

The National Tax Service announced on March 1 that, with the temporary suspension of increased capital gains tax rates for owners of multiple homes ending on May 9 of this year, it will provide a variety of support services to help taxpayers conveniently file their capital gains tax returns.

First, the National Tax Service will establish and operate exclusive capital gains tax filing and consultation counters for properties subject to increased taxation at tax offices in regulated areas where the increased capital gains tax for owners of multiple homes applies. These counters will actively address taxpayers' questions and provide support.

The National Tax Consultation Center also offers consultations related to the end of the temporary suspension of increased capital gains tax on owners of multiple homes. In addition, both the Hometax (PC) and Sontax (mobile) platforms provide a 'Self-Diagnosis for Increased Capital Gains Tax' service, which allows taxpayers to easily assess whether the increased tax applies to them through simple Q&A. There is also a 'Capital Gains Tax Simulation' service, enabling taxpayers to estimate their capital gains tax based on whether the increased rate applies.

Taxpayers can take advantage of these various support services to conveniently file their capital gains tax returns electronically through Hometax (PC) or Sontax (mobile), or by submitting a paper return to the tax office with jurisdiction over their address. The deadline for pre-filing and payment of capital gains tax is within two months of the end of the month in which the transfer took place.

Taxes due can be paid electronically through Hometax or mobile, or by credit card and other methods. If the amount of capital gains tax to be paid exceeds 10 million won, payment can be split into two installments: one by the pre-filing deadline and the other within two months after the payment deadline.

This content was produced with the assistance of AI translation services.