Gwangju Gwangsan-gu Extends Corporate Local Income Tax Payment Deadline for COVID-19 Affected Businesses

[Asia Economy Honam Reporting Headquarters Reporter Lee Gwan-woo] Gwangsan-gu, Gwangju Metropolitan City announced on the 9th that it has extended the payment deadline for corporate local income tax for small and medium-sized enterprises (SMEs) that have suffered difficulties due to COVID-19 quarantine measures.

Corporate local income tax must be reported and paid by the 30th of last month for domestic corporations such as profit corporations and non-profit corporations engaged in revenue-generating businesses with fiscal year ending in December last year, as well as foreign corporations with domestic source income.

However, Gwangsan-gu decided to extend the payment deadline by three months for 58 corporations, amounting to approximately 469 million KRW in corporate local income tax, to alleviate the tax burden on SMEs affected by COVID-19.

Among them, 55 companies are SMEs in industries subject to gathering bans and business restrictions due to COVID-19 quarantine measures, and the extension was made ex officio from the original deadline at the end of last month to the end of July without a separate application for taxpayer convenience.

Gwangsan-gu also accepted applications for extension of local tax payment deadlines from three companies experiencing business difficulties due to COVID-19 and extended the deadline within six months after determining whether they met the extension criteria.

Corporations that received ex officio extensions related to COVID-19 can apply for one additional extension within six months if further extension is needed. They can apply to Gwangsan-gu by filling out the local tax payment deadline extension application form.

For detailed information on the extension of the corporate local income tax payment deadline, please contact the Taxation Division 2 of Gwangsan-gu.

A Gwangsan-gu official said, “We will continue to actively seek support measures to help resolve difficulties faced by local companies.”

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