Gyeonggi-do Imposes 365.6 Billion KRW in Regular December Automobile Tax

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has imposed 365.6 billion KRW in the second installment of automobile tax for 2021. Accordingly, the total amount imposed this year is 1.2061 trillion KRW. This represents an increase of 1.36% compared to the same period last year (360.7 billion KRW) and 3.44% compared to the previous year (1.1659 trillion KRW).

Automobile tax is levied on vehicle owners every June and December. The second installment of automobile tax imposed this time is the tax for vehicle ownership from July 1 to December 31, 2021.

The payment period is from the 16th to the 31st of this month. If the automobile tax has been prepaid, it will not be imposed.

Automobile tax can be paid directly at all financial institutions nationwide. Payments can be made via Wetax, Internet Giro, virtual accounts, CD/ATM.

If you apply for electronic notification through simple payment apps, you can receive a mobile tax bill. When using the local tax revenue account (electronic payment number) on the bill, transfer fees are waived.

Meanwhile, as the proportion of eco-friendly vehicles (electric and hydrogen cars, etc.) has increased by more than 100% annually on average, the province proposed a revision of the current taxation system to the Ministry of the Interior and Safety in September last year, considering tax equity with general passenger cars taxed by engine displacement. Eco-friendly vehicles, which do not have internal combustion engines, are subject to a fixed tax rate of 130,000 KRW per vehicle. This includes the content that preparations should be made to compensate for the decrease in tax revenue, as this is similar to the level of compact cars compared to general passenger cars.

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