Jinju City Opens Applications for 9.15% Discount on 2021 Annual Car Tax Prepayment

Jinju City Hall Exterior (Photo by Jinju City)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, announced on the 14th that it is accepting annual prepayment applications for automobile tax during the month of January, allowing a deduction of 9.15% of the annual tax amount.

The automobile tax annual prepayment system is a system where if you pay the automobile tax, which is levied twice a year in June and December, in advance, you receive a 10% deduction on the tax amount corresponding to the period from the day after the filing deadline to December 31st of the annual tax amount.

Based on the annual tax amount, a deduction of 9.15% is given by the end of January, 7.5% by the end of March, 5% by the end of June, and 2.5% by the end of September.

Until last year, a 10% deduction of the annual tax amount was given for January prepayment, but due to the revision of the Local Tax Act, from this year, a deduction of 9.15% of the annual tax amount, which is 10% of the tax amount corresponding to February through December, is applied.

Accordingly, the deduction rate based on the annual tax amount will be reduced from the current 10% to 7% in 2023, 5% in 2024, and 3% from 2025 onwards.

Last January, about 4,600 cases and approximately 12.2 billion KRW were reported and paid through the automobile tax annual prepayment, and the number of citizens using the prepayment system is increasing every year.

Taxpayers who are already using the existing prepayment system do not need to apply separately if there is no change in their vehicle.

Those applying for the prepayment for the first time or who have changes in their vehicle can apply at the Jinju City Tax Division, Eup/Myeon Offices, or Dong Administrative Welfare Centers.

From the 16th, Jinju residents can apply for the annual prepayment of automobile tax by accessing the local tax portal service, WETAX.

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