Daejeon City Imposes 5.47 Billion Won in Resident Tax on Over 540,000 Cases

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 12th that it will impose 5,472,930 cases of individual resident tax totaling 5.472 billion KRW this month.

Every August is the month for paying resident tax (individual and business establishment portions), and taxpayers are individuals (household heads) and individual business owners and corporations residing in Daejeon as of July 1.

The individual portion of the resident tax, including local education tax, is 12,500 KRW per person, and the payment period is from the 16th to the 31st.

The business establishment portion is set and imposed between 75,000 KRW and 300,000 KRW depending on the capital of individual business owners and corporations, and business operators with a workplace area of 330㎡ or more must report and pay an amount that includes 250 KRW per 1㎡.

In particular, starting this year, according to the revised Local Tax Act, the property portion resident tax previously imposed in July on business owners with a workplace area of 330㎡ or more and the equal portion resident tax for individual business owners and corporations imposed in August have been integrated into the business establishment portion resident tax, which must be reported by the end of this month.

However, since this year is the first year of enforcement of the revised Local Tax Act, a guidance document regarding the revised contents will be enclosed with the payment slip and sent to taxpayers, and payment will be considered as reporting and payment.

Accordingly, the city has sent out the business establishment portion resident tax payment slips in bulk to minimize taxpayer confusion due to the change in the taxation system.

Kim Ki-hong, head of the city’s Taxation Division, said, “Considering that an additional 3% surcharge will be added if the resident tax is not paid within the period, taxpayers are urged to pay the resident tax within the deadline.”

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