Seoul City, "File Comprehensive and Local Income Tax by June 1"

Payment Deadline Extended by 3 Months Until the End of August to Support COVID-19 Damage

[Asia Economy Reporter Jo In-kyung] The Seoul Metropolitan Government announced on the 19th that comprehensive income tax (national tax) and comprehensive income local tax (local tax) for the 2019 tax year must be filed by June 1st.

Comprehensive income refers to the total income from business, labor, interest, dividends, pensions, and other income combined. Every May is the month for filing comprehensive income tax and local income tax. Since May 31st falls on a Sunday this year, the filing deadline is extended to June 1st.

For taxpayers subject to the faithful reporting confirmation, the filing deadline is extended by one month, so they must file by June 30th. The scope of taxpayers subject to faithful reporting confirmation includes retail and wholesale businesses, agriculture (with income of 1.5 billion KRW or more in 2019), manufacturing, construction, lodging, and restaurant businesses (with income of 750 million KRW or more), real estate rental, medical, and service industries (with income of 500 million KRW or more), among others.

Starting this year, comprehensive income tax and local income tax can also be filed at the 25 autonomous districts of Seoul. At the district filing centers, district employees and tax office staff work together to assist taxpayers with their filings. Regardless of the resident registration address or business location, taxpayers can visit any district to file their comprehensive income tax and local income tax.

Electronic filing can be done by accessing Hometax (www.hometax.go.kr), filing the comprehensive income tax, and then clicking the 'File Local Income Tax' button, which automatically connects to Wetax (www.wetax.go.kr) to file the local income tax. For postal filing, taxpayers can print the comprehensive income tax and local income tax forms from Hometax or Wetax, complete them, and submit them by mail before the deadline.

However, due to COVID-19 this year, the Seoul Metropolitan Government allows taxpayers who have difficulty filing comprehensive income tax and local income tax to apply for an extension of up to three months until August 31st.

Taxpayers who have completed filing comprehensive income tax and local income tax must pay the taxes by August 31st.

Seo Moon-soo, head of the Seoul Taxation Division, said, "At the end of May, when the filing deadline approaches, filings tend to concentrate, which may cause inconvenience such as overloads on Hometax and Wetax." He added, "Please file your comprehensive income tax and local income tax in May and pay by August 31st. If the payment is delayed too long after filing due to the extended deadline, there is a risk of missing the payment, so please make your payment on time."

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