Mokpo City Supports Local Tax Payments for Victims of Novel Coronavirus

When Providing Payment Support Measures Such as Deadline Extensions, Collection Deferrals, and Tax Audit Deferrals

Mokpo City Hall (Photo by Mokpo City)

[Asia Economy Honam Reporting Headquarters Reporter Jeong Hyeong-seok] Mokpo City announced on the 11th that it will implement support measures such as extensions of local tax deadlines, collection deferrals, and tax investigation postponements for victims of the novel coronavirus infection.

The city plans to actively support businesses experiencing difficulties due to confirmed cases, quarantined individuals, or closures caused by visits from confirmed patients.

First, the reporting and payment deadlines for reported tax items such as acquisition tax, local income tax, and employee resident tax can be extended without tax guarantees within a range of 6 months (one extension, up to 1 year).

Also, for local taxes already notified and those to be taxed in the future, if payment is difficult, collection deferrals can be applied within a range of 6 months (one extension, up to 1 year).

Furthermore, except in unavoidable cases such as the imminent expiration of the assessment statute of limitations, tax investigations will be postponed for confirmed patients, quarantined individuals, and affected businesses.

In particular, when confirmed patients and quarantined individuals find it difficult to apply for extensions of reporting and payment deadlines or collection deferrals on their own, the head of the local government will provide support ex officio.

A Mokpo City official said, “We will do our best to ensure that the novel coronavirus ends early without damage to Mokpo citizens by providing administrative and financial support, and at the same time, to ensure that practical local tax support is provided when victims occur.”

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