Gwangju City Provides Local Tax Revenue Support to Citizens and Businesses Affected by COVID-19

Extension of Reporting and Payment Deadlines and Suspension of Collection and Delinquency Measures

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City has established a local tax revenue support plan for citizens and businesses affected by COVID-19 this year.

According to Gwangju City on the 16th, the payment deadline for corporate local income tax for businesses in industries subject to gathering bans and business restrictions will be extended ex officio from the original April 30 to July 3, and the payment deadline for comprehensive income individual local income tax will also be extended ex officio from May 31 to August 31.

For tax items such as acquisition tax that require reporting and payment, if there are difficulties in payment due to direct or indirect COVID-19 damage, the reporting and payment deadlines will be extended up to one year. For tax items subject to levy and notice such as property tax and automobile tax, collection and delinquency enforcement will be deferred upon application.

Regarding local non-tax revenue such as enforcement fines and penalties, if payment difficulties are confirmed, installment payments or extensions of payment deadlines will be allowed to ease the burden.

Regarding tax audits, the number of target corporations will be reduced to about 70% compared to last year, and through active interpretation for companies directly or indirectly affected by COVID-19, audits for affected companies will be deferred in the first half of the year. Instead of direct audits, written audits will be conducted to reduce the burden on audited companies.

In addition, the property tax reduction for kind landlords will be actively implemented again this year with the consent of the district councils, following last year, and efforts will be actively made to promote participation of kind landlords for expansion.

Along with this, acquisition tax exemption for temporary buildings at COVID-19 screening clinics will be provided, and efforts to discover and expand new exemption items will continue.

Kim Il-yong, Director of the Autonomous Administration Bureau of the city, said, “Gwangju City will continue to provide local tax revenue support for affected citizens and businesses to always be with the citizens in difficult times.”

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