Songpa-gu Encourages Submission of Corporate Local Income Tax Special Withholding Statements

Available via Wetax·Etax website or district office visit until March 2

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Park Seong-su) has requested special withholding agents of corporate local income tax to submit the special withholding statement by March 2.

The special withholding agents for corporate local income tax this time are corporations and individuals who reported and paid corporate local income tax by specially withholding 10% of the corporate tax withheld amount when paying interest and dividend income to domestic corporations and foreign corporations with domestic business establishments in 2019.

At this time, the special withholding agents must submit the statement including the details of the corporate local income tax special withholding to the local government with jurisdiction over their location in accordance with the Local Tax Act.

The special withholding statement is used for the settlement of corporate local income tax special withholding amounts among local governments nationwide and serves as data for verifying and refunding the prepaid corporate local income tax for the year 2019.

The special withholding statement is utilized as data to verify and refund the prepaid amount when filing the final corporate local income tax return.

Additionally, it is used for the settlement of corporate local income tax special withholding amounts among local governments nationwide.

Accordingly, Songpa-gu has sent guidance letters to about 740 corporate local income tax special withholding agents in the area and posted the notice on the district website to encourage submission of the statement by March 2.

Submission can be made online or by direct visit. It can be submitted online through the local tax internet payment system Wetax (www.wetax.go.kr) or Seoul local tax internet payment system Etax (etax.seoul.go.kr), or by visiting the Taxation Division 2 of Songpa-gu Office to submit in writing or via storage media (USB, CD, etc.).

For more details, please refer to the notice board on the Songpa-gu website (www.songpa.go.kr) or contact Taxation Division 2 (☎2147-2610).

Park Seong-su, Mayor of Songpa-gu, said, “We ask that the special withholding statement be accurately prepared and submitted within the deadline so that the settlement and refund of corporate local income tax can proceed smoothly,” and added, “We will continue to do our best for transparent tax administration centered on taxpayers.”

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