Gyeongbuk Province Provides Local Tax Support to Uljin Wildfire Victims

Acquisition Tax, Local Income Tax, Property Tax, Automobile Tax ... Payment Deadline Extended by 6 Months

Local Tax Exemptions for New Housing Construction, Automobile Replacement Acquisition, Payment Deadline Extension, and Collection Deferral

Gyeongbuk Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gyeongsangbuk-do has prepared local tax support measures for residents who suffered property damage in relation to the declaration of a special disaster zone following the wildfire in Uljin.

‘Declaration of Special Disaster Zone (March 6, 2022, 14:50)’ Areas of Uljin, Gyeongbuk and Samcheok, Gangwon-do

This support includes all measures stipulated by local tax laws, with the specific support details as follows.

The payment deadline for acquisition tax, local income tax, property tax, automobile tax, etc. is extended by 6 months.

Collection deferral for local tax amounts already billed or overdue can be extended or deferred for 6 months by the local government head’s authority (up to 2 years for special disaster zones).

In particular, when acquiring new buildings or automobiles to replace those destroyed by the wildfire, acquisition tax and registration license tax are exempted, and if automobiles are destroyed or damaged and unusable, automobile tax can be exempted.

Additionally, tax audits for affected small and medium enterprises can be postponed.

Furthermore, local government heads may reduce local taxes such as property tax and resident tax through a resolution of the local council if deemed necessary considering the damage situation.

Residents seeking local tax exemption can receive a damage confirmation certificate at the Uljin-gun eup/myeon offices and submit it along with an application to the finance department to be exempted from acquisition tax, etc.

Hwang Myeong-seok, Director of Planning and Coordination Office of Gyeongbuk Province, stated, “We will actively promote the local tax support contents to ensure that practical local tax support is promptly provided to the affected residents, and we hope it will be of some help to them.”

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