Sejong-si, Local Income Tax Refund Applications Accepted for 'Prompt Payment'

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City announced on the 8th that it will promptly proceed with the local income tax refund for wage earners following the year-end tax settlement this month.

The local income tax refund was generally paid in April to May after the national tax refund from the year-end tax settlement occurred in March. However, the city has advanced the payment schedule since last year.

This year as well, the city plans to promptly pay the refund if the withholding agent applies for the local income tax refund to the City Hall Taxation Division upon receiving the national tax refund notice.

The local income tax refund is when the local government refunds 10% of the national tax refund amount to the withholding agent. Last year, the city refunded approximately 2.3 billion KRW in local income tax following the year-end tax settlement.

The city expects the refund amount to increase this year due to the rise in income deduction rates and limits in the year-end tax settlement.

For more detailed information regarding the local income tax refund, please check the city’s official website.

Park Hyung-guk, head of the City Taxation Division, said, “We aim to promptly pay the local income tax year-end settlement refunds to help overcome COVID-19.”

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