Gyeongju City, Full Exemption of Resident Tax and Commercial Vehicle Tax... Up to 1 Million KRW Property Tax Reduction for 'Good Landlords'

Mayor Jun Nak-yeong "Continuing to Develop Various Policies for Regional Economic Recovery"

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongju City announced on the 28th that it will reduce local taxes for citizens affected by the prolonged COVID-19 pandemic.

Following last year, local tax reduction measures will be implemented again this year for resident tax, automobile tax, property tax, and others. Resident tax and business-use automobile tax will be fully exempted without a separate application process for all households and individual business owners registered in Gyeongju.

In particular, for benevolent landlords, property tax reduction will be promoted, exempting 50% of the rent discount amount up to a maximum limit of 1 million KRW. Additionally, property tax will be reduced by 5% up to a limit of 200,000 KRW only for businesses whose sales have decreased by more than 30% compared to 2019 due to COVID-19.

Furthermore, the deadline for local tax filing and payment can be extended within a range of 6 months (one extension, up to a maximum of 1 year), and if it is difficult to pay local taxes already notified or to be taxed in the future, collection deferral is also possible within the same 6-month range (one extension, up to a maximum of 1 year).

Joo Nak-young, mayor of Gyeongju City, said, "We will continue to actively discover and implement various empathetic measures to improve citizens' lives and restore the local economy."

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