Songpa-gu, Corporate Local Income Tax Electronic Filing and Payment Guide

Sent 18,384 Notices... "Non-Face-to-Face Recommended to Prevent COVID-19 Spread"

[Asia Economy Reporter Jong-il Park] Songpa-gu (Mayor Park Seong-su) has sent 18,384 simple electronic filing and payment guides to local corporations and tax agents in celebration of the month for the final filing and payment of corporate local income tax for the year 2019.

As of the end of December 2019, domestic corporations located in the area and foreign corporations with domestic business sites must complete the local income tax filing and payment by May 4.

Corporations with no income or with losses for the business year are subject to filing.

For filing and payment, attached documents such as the tax base and tax adjustment statement, balance sheet, and comprehensive income statement must be submitted through Wetax (www.wetax.go.kr) or Etax (http://etax.seoul.go.kr).

If electronic filing is difficult, filing and submission are also possible via email, fax (2147-3868), mail, or visit (Songpa-gu Office Tax Division 2). However, Songpa-gu added that since social distancing is being implemented due to Coronavirus Disease 2019 (COVID-19), it is recommended to avoid visiting in person.

If attached documents are not submitted or if apportionment-target corporations do not file based on the apportionment rate according to the total floor area and number of employees of the business site and only file with one local government such as the head office location, a non-filing penalty of 20% will be imposed.

The filing and payment amount for each corporation is the amount calculated by applying a differential tax rate of 1 to 2.5% to the corporate tax base amount calculated according to the Corporate Tax Act.

Songpa-gu has established and operates a dedicated response team for corporate local income tax filing and payment. It has built an emergency response system including operating an organic cooperation system with Seoul City to prepare for emergencies such as computer failures in the tax comprehensive system and filing/payment system, and has designated dedicated personnel for electronic filing and payment to minimize taxpayer inconvenience.

For other matters related to corporate local income tax filing and payment, inquiries can be made to Tax Division 2.

Park Seong-su, Mayor of Songpa-gu, said, “As part of social distancing, we ask for electronic filing and payment of corporate local income tax,” and added, “Since there may be difficulties accessing the system near the payment deadline due to many electronic payments, please file and pay in advance.”

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