Changes in Local Tax Payments A to Z ... Sangju-si, Gyeongbuk, Publishes Local Tax Guidebook

Guidance on Local Tax Items, Systems, and Payment Methods Included

Sangju City, Gyeongbuk, has published the booklet "2022 Useful Local Tax Guide".

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Sangju City in Gyeongbuk Province is publishing and distributing 1,000 copies of the '2022 Useful Local Tax Guide' booklet to help taxpayers easily understand local taxes.

The booklet contains major amendments made this year. It explains local tax categories, convenient local tax systems to know, and easy local tax payment methods.

For example, acquisition tax has been revised so that inheritance acquisition tax is exempted when registration is not done before inheritance and when a vehicle is deregistered after being scrapped.

Also, when applying for exemptions on the acquisition of farmland by new farmers, the exemption can be applied if the address is transferred within 60 days after acquisition.

Hybrid vehicles for achieving carbon neutrality receive a 400,000 KRW acquisition tax reduction until the end of this year. The 1,400,000 KRW acquisition tax reduction for electric and hydrogen vehicles has been extended until the end of 2024.

The acquisition tax reduction limit for purchasing light passenger cars has increased from the previous 500,000 KRW to 750,000 KRW, and the exemption period is extended until 2024.

A city official said, “We published the local tax guide booklet for taxpayer convenience, and we hope it helps citizens and businesses understand local taxes.”

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