Mujugun, 100% Reduction in Resident Tax This Year

Muju-gun will provide a 100% exemption on the 2020 resident tax (equalization portion) based on the local tax reduction consent approved at the 276th Muju-gun Council extraordinary session held on the 28th of last month. Photo by Muju-gun

[Asia Economy Honam Reporting Headquarters Reporter Go Dallyeong] Muju County announced on the 6th that it will provide a 100% exemption on the 2020 resident tax (per capita and equal share) based on the local tax reduction agreement approved at the 276th Muju County Council extraordinary session held on the 28th of last month to help residents overcome the damages caused by COVID-19.

The exemption targets all household heads residing in Muju County, as well as individual business owners and corporations with business establishments in Muju County. The county plans to exempt the regular resident tax levied every August.

The exemption amounts are 11,000 KRW for individuals, 55,000 KRW for individual business owners, and 55,000 KRW to 550,000 KRW for corporations.

Hwang Inhong, the governor of Muju County, stated, “Currently, all residents are suffering economic and psychological hardships due to COVID-19, and the county is implementing various support measures at the county level. The 100% resident tax exemption is part of these efforts, and we hope it will help our residents somewhat in overcoming the damages caused by COVID-19.”

Muju County plans to distribute notices containing the details of the 100% resident tax exemption to each household and business establishment this year. Since February, the county has been fully committed to support by sharing information on ▲extension of local tax payment deadlines, ▲deferment of collection, and ▲postponement of tax audits.

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