Gwangju Chamber of Commerce Holds Meeting to Support Tax Administration Overcoming COVID-19

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Gwangju Chamber of Commerce and Industry held a meeting with the Gwangju Regional Tax Office Director, inviting local businesspeople on the 10th at 3 p.m. in the main conference room. About 30 people, including Chairman Jeong Chang-seon and Director Lee Pan-sik of the Gwangju Regional Tax Office, attended the business tax discussion meeting.

This meeting was organized to convey the difficulties local businesspeople face on the ground and to strengthen mutual communication between businesspeople and tax authorities by promoting government COVID-19 corporate support policies and various tax support systems.

Chairman Jeong Chang-seon said in his greeting, “The global spread of Omicron and protectionism in major countries are intensifying difficulties in the regional economy and industry,” and added, “I hope this meeting will serve as a communication platform to collect the challenges of local businesspeople and enhance understanding of the government’s tax administration.”

Director Lee Pan-sik stated, “I came here to listen to the difficulties and vivid voices from the field experienced by our local businesspeople,” emphasizing that the spread of Omicron has dealt a significant shock to our economy and industry. He pledged to actively provide tax support so that the vulnerable regional economy can quickly regain vitality and to carry out national tax administration that meets the public’s expectations.

During the subsequent discussion, the Gwangju Regional Tax Office provided detailed explanations on various beneficial tax-related systems, including tax support measures for COVID-19 affected taxpayers such as ▲extension of payment deadlines for corporate tax, ▲tax credit system for benevolent landlords, ▲postponement of tax audits for affected companies, ▲business succession support system, and ▲major tax law amendments related to real estate.

They also introduced the R&D tax credit pre-assessment system and customized tax consulting system for small and medium-sized enterprises, which have been in place since 2020.

Additionally, the Gwangju Chamber of Commerce and Industry delivered five tax-related difficulties pre-submitted by businesspeople to the Gwangju Regional Tax Office: ▲expansion of tax support systems in response to COVID-19, ▲reduction of tax audit burdens and expansion of consulting for small and medium-sized enterprises, ▲relaxation of penalties for late payments, ▲improvement of the business succession deduction system to enhance corporate competitiveness, and ▲expansion of tax credits for R&D personnel development expenses for small and medium-sized enterprises.

Director Lee Pan-sik expressed deep sympathy for the difficulties raised by businesspeople during the meeting and said, “We will provide the maximum tax support within the scope prescribed by law,” adding, “We will listen more closely to the opinions from the corporate field regarding taxes and provide more active support so that companies can focus on their business activities.”

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