Geochang-gun, 9.15% Discount Benefit for 2021 Automobile Tax Prepayment

Applications Accepted Until the 31st, 9.15% Discount for Annual Payment in January

Geochang County Office Building View (Photo by Geochang County)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 13th that it will accept applications for annual prepayment of automobile tax, which allows a tax deduction if the annual automobile tax is paid in a lump sum, until the end of this month.

The annual prepayment system for automobile tax is a system that deducts the tax amount depending on the payment timing when the automobile tax, which is usually paid twice a year in June and December, is paid at once. Previously, a 10% deduction was given for prepayment in January, but from this year, due to the revision of the Local Tax Act, a 9.15% discount is applied.

The application period for annual prepayment is from the 16th to the 31st, and even if the prepayment in January is missed, applications can be made in March, June, or September. If prepayment is not desired, the tax can be paid in installments in June and December.

If the annual prepayment was applied for last year, a prepayment tax bill will be sent without a separate application.

For vehicles that were not prepaid or newly acquired vehicles for which prepayment is desired, an application must be submitted.

If the vehicle is deregistered or transferred after prepayment, a refund is possible depending on the ownership period.

Lee Gyu-seop, Director of the Finance Department, said, “In this low-interest era, annual prepayment of automobile tax can be a good way to save taxes,” and added, “Although it is a difficult time due to COVID-19, we hope many residents actively use the automobile tax annual prepayment system to receive tax benefits.”

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