Religious Organizations and Other Public Interest Corporations to Reduce Comprehensive Real Estate Tax Burden... Special Application Window Operated

National Tax Service to Accept Applications Until the 15th for Special Exemption Plan

[Sejong=Asia Economy Reporter Kim Hyunjung] Although the comprehensive real estate holding tax (종부세) on housing for corporations has been strengthened, public interest corporations including religious organizations such as churches are expected to receive special exemptions to reduce their burden.

According to the National Tax Service on the 1st, from this year, corporations with two or fewer houses must pay a maximum single tax rate of 3% for 종부세, and those with three or more houses or two houses in regulated areas must pay 6%. Basic deductions or tax burden caps do not apply.

However, public interest corporations such as religious organizations can receive the corporate general tax rate special exemption, which applies the general tax rates (0.6?6.0%), a basic deduction of 600 million KRW, and tax burden caps as individuals do.

To receive the corporate general tax rate special exemption, an application must be submitted during the exclusion from aggregation reporting period from September 16 to 30, or together with the 종부세 report during the reporting period from that day until the 15th of this month.

Considering that the corporate general tax rate special exemption system is being implemented for the first time this year, the National Tax Service decided to operate a special application window at tax offices during the 종부세 reporting period for public interest corporations lacking sufficient tax expertise.

Public interest corporations wishing to receive the corporate general tax rate special exemption can submit only the application form to the special application window at the tax office via Hometax, Sontax, mail, or fax, and immediately confirm the tax amount with the exemption applied.

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