Muan-gun Completes Notification of Resident Tax Reduction for 'COVID-19 Overcome'

Individual Resident Tax 459 Million Won, Business Subdivision 284 Million Won Exempted

Muan-gun Government Office Exterior / ? Asia Economy

[Muan＝Asia Economy Honam Reporting Headquarters, Reporter Oh Hwan-joo] Muan County, Jeollanam-do (County Governor Kim San) recently announced on the 13th that it has fully waived the individual resident tax amounting to over 459 million KRW for 41,752 taxpayers and waived 50% of the resident tax business place amounting to over 284 million KRW for 5,574 business locations, and simultaneously sent out waiver notices and tax payment and filing notices.

Resident tax is a local tax that individuals with an address or businesses with a place of business in a local government as of the tax base date (July 1 every year) must pay.

Until last year, resident tax was divided into equal amount, property amount, and employee amount, but from this year, individual business owners and corporations, and the resident tax property amount have been integrated into the resident tax business place amount, reorganizing into three types: resident tax individual amount, business place amount, and employee amount.

Therefore, in August, the resident tax individual amount and business place amount are subject to payment, and since the business place amount requires taxpayers to file a report, the county sent out filing guidance documents together to prevent confusion among taxpayers.

In particular, this year, as a special measure to overcome COVID-19 and recover the local economy recession, resident tax waivers are implemented, so waiver notices were sent to resident tax individual amount taxpayers, and payment slips, filing guidance documents, and waiver notices were sent to business place amount taxpayers.

If there are any inquiries related to resident tax, you can contact the Tax Accounting Division Assessment Team at Muan County Office for detailed guidance.

County Governor Kim San said, “This year, not only has the resident tax system been greatly reorganized, but COVID-19 response waivers have been applied, so residents can receive waiver notices instead of payment slips,” and added, “I hope the resident tax waiver, implemented to overcome the crisis together, will provide some comfort to the residents amid the COVID-19 situation.”

Meanwhile, Muan County decided in April to significantly waive the 2021 resident tax for residents struggling due to the prolonged COVID-19 situation, becoming the first in the nation to do so.

Muan＝Asia Economy Honam Reporting Headquarters, Reporter Oh Hwan-joo ohj1358@asiae.co.kr

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