Seoul City Selects 260,000 Exemplary and Meritorious Local Taxpayers... Interest Rate Benefits and Parking Fee Exemptions

'Yugong Napsaeja' Selected 148 Among Model Taxpayers for Revenue Contribution Evaluation

[Asia Economy Reporter Lim Cheol-young] To commemorate the 56th Taxpayer's Day, the Seoul Metropolitan Government announced on the 2nd that it selected 263,139 individuals who diligently paid local taxes and contributed to securing city finances as exemplary taxpayers, and awarded certificates of commendation to 148 distinguished taxpayers among them to convey its appreciation.

Seoul selected exemplary and distinguished taxpayers from those who have paid at least two local tax bills annually for more than eight consecutive years without any tax arrears. The selection was made after considering each district's community contribution and local financial contribution, based on recommendations from 25 autonomous districts and a review by the 'Local Tax Deliberation Committee' held on February 18.

Seoul issues certificates to the selected exemplary and distinguished taxpayers and provides preferential benefits in finance, medical care, culture, and exemption from parking fees. Exemplary taxpayers receive benefits such as up to a 0.5% reduction in loan interest rates for one year at Seoul’s official city bank (Shinhan Bank), waivers of over 20 types of fees at Shinhan and Woori Banks, preferential exchange rates, and medical expense discounts (10?20%) at Hallym University Gangnam Sacred Heart Hospital.

The status of being selected as an exemplary taxpayer can be confirmed through Seoul’s tax payment system ETAX website, the tax payment app (STAX), and the Seoul Citizen Card app. It is also indicated on tax bills such as automobile tax and resident tax, while distinguished taxpayers are notified individually.

Meanwhile, the number of local tax payers in Seoul is 7,233,000, of which 6,365,000 are individual taxpayers and 868,000 are corporations and others. Lee Byung-han, Director of Finance of Seoul, said, “We deeply appreciate taxpayers who have faithfully fulfilled their tax obligations despite various difficult economic conditions such as social distancing due to COVID-19,” and added, “We will continue to strive to foster pride among Seoul’s exemplary taxpayers and to cultivate a sound taxpaying culture.”

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