Gyeongnam Province Extends Income Tax Payment Deadline for SMEs Affected by COVID-19

Businesses Subject to Assembly Ban and Operation Restrictions, 3,400 Companies in Employment Crisis Receive Benefits

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Small and medium-sized enterprises in Gyeongnam Province affected by the novel coronavirus infection (COVID-19) can pay their 2021 corporate local income tax three months later, extending the original deadline from the end of April to the end of July.

According to Gyeongnam Province on the 25th, the automatic extension applies to businesses in industries subject to gathering bans, businesses with operational restrictions, and companies located in employment crisis areas and special industrial crisis response zones.

These companies will have their payment deadlines extended by three months without a separate application. Gyeongnam Province estimates that about 3,400 small and medium-sized enterprises in the province will benefit from this extension.

Companies requiring an extension beyond three months can apply for an extension of up to six months until the end of October. Additionally, companies in tourism, travel, performance-related industries, and passenger transportation within the province are also eligible to apply.

Applications for payment deadline extensions can be submitted by visiting the city or county office where the business is located in person, or by mail or fax, up to three days before the filing deadline (April 30).

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