Gimhae City Shares Taxpayer Burden by Expanding Local Tax Reductions

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, announced on the 22nd that it has prepared various local tax support measures for taxpayers struggling due to the prolonged COVID-19 pandemic.

The city is first preparing to expand local tax reductions through ordinance amendments. The property tax reduction rate for building owners participating in the Good Landlord Movement will be increased from 50% last year to 75%.

In addition, the resident tax on business places for individual business owners and small and medium-sized corporations will be reduced by 50%.

Along with this, the reporting and payment deadlines for acquisition tax and others can be extended from 6 months to 1 year, and if it is difficult to pay already notified local taxes, collection deferral is also possible within 6 months to 1 year. Tax audits on affected businesses will also be deferred.

Heo Seong-gon, Mayor of Gimhae City, said, "I hope these policies will be of some help to citizens who are experiencing difficulties," and added, "We will continue to do our best to discover various policies for the citizens."

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