Changwon City Expands Local Tax Reduction to Support Small Businesses Overcoming COVID-19

Promotion of Property Tax and Small Business Delinquent Penalty Reduction in the 'Sangsaeng Rent Movement'

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City in Gyeongnam announced on the 6th that it will promote local tax reductions to protect and support small business owners amid the prolonged COVID-19 pandemic and the spread of local infections.

Changwon City will also promote the revitalization of the 'Win-Win Rent Campaign' this year. Property tax reductions will be provided to landlords who lower rent for small business tenants.

The city will implement expanded property tax reductions to encourage more landlords to participate.

Last year, reductions applied only to buildings, but this year the scope of property tax reductions will be expanded to include not only buildings but also land.

Additionally, the reduction rate will be increased up to 75% (compared to 50% last year) depending on the rent reduction rate.

Regardless of whether the tax base date is included, reductions can be received for the rent reduction period throughout this year. However, high-end entertainment venues and golf courses subject to heavy taxation are excluded from the reduction targets.

Late payment penalties and additional penalties for small business owners who could not utilize support systems such as deferred collection will be reduced.

The reduction targets are small business owners as defined in Article 2 of the 'Act on the Protection and Support of Small Businesses.'

The penalties and additional penalties apply to local taxes for which the tax obligation was first established after January 1, 2020.

However, small business owners who have been delinquent on local taxes three or more times as of the application date are excluded from the reduction targets.

The concentrated application period is from the 10th to June 18.

Applicants must prepare local tax reduction application forms, original lease contracts, copies of rent deposit bankbooks, and small business confirmation certificates, and apply in person at the district tax office or the eup/myeon/dong administrative welfare center.

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