Sancheong-gun Extends Tax Reduction for Good Landlords Overcoming COVID-19

Temporary Reduction of Penalties for Some Local Tax Delinquent Small Business Owners

Sancheong County Office Signstone

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam Province announced on the 26th that it will extend the tax reduction period for benevolent landlords to help small business owners overcome difficulties caused by the novel coronavirus infection (COVID-19), and will also temporarily reduce taxes for some small business owners with local tax arrears.

The county will expand the property tax (building) reduction rate up to 75% depending on the reduction rate if the rent is reduced by more than three months in 2021 for merchants. Rent reductions after July can also be supported through refund applications after property tax payment.

Resident tax will also be reduced by 50% for individual business owners and corporations with capital or investment amounts of 3 billion KRW or less.

In addition, small business owners who have local taxes first imposed after January 1, 2020, and are in arrears can temporarily receive a reduction in additional charges until December 31, 2021. However, those who have been in arrears three or more times are excluded from the additional charge reduction.

To implement this local tax reduction measure, the county went through legislative notice of a partial amendment to the county tax reduction ordinance in March, followed by reviews by the Local Tax Deliberation Committee and the Ordinance and Regulation Deliberation Council.

A county official said, “We hope this amendment to the local tax reduction ordinance will provide some support to small business owners struggling due to the prolonged COVID-19 pandemic,” and added, “We will continue to make various efforts to help overcome the community crisis, including spreading the benevolent landlord movement.”

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