Hampyeong-gun Provides Property Tax Relief for Entertainment Venues to Overcome COVID-19

[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Hampyeong County, Jeollanam-do announced on the 17th that it will reduce the property tax surcharge for owners of entertainment establishments who are experiencing economic difficulties due to the prolonged COVID-19 pandemic.

The reduction applies to entertainment establishments where business operations have been prohibited due to assembly restrictions or bans, lowering the original entertainment establishment surcharge rate of 4% to the general rate of 0.25%.

The property tax reduction for entertainment establishments will be applied to the regular property tax (buildings) levied next month, and applications can be submitted until the end of December.

This measure became possible following the recent promulgation of the amended Local Tax Special Act, which was passed in May. When grounds for reduction occur, local taxes can be reduced according to local government ordinances or resolutions of local councils.

Hampyeong County decided to proceed with the reduction through a council resolution, a faster method, to ensure timely support for taxpayers struggling due to the prolonged COVID-19 situation.

County Governor Lee Sang-ik said, "I hope that entertainment establishments facing difficulties due to business bans or restrictions will overcome hardships through tax burden relief and that the local economy will normalize as soon as possible."

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