Joint Work Session on General Local Allocation Tax of Gyeongnam Province Held at Geochang Changpowyun

18 Cities and Counties in the Province Prepare Basic Statistics for Next Year's General Local Tax Grants

Joint meeting for the 2023 Gyeongnam Province General Local Allocation Tax held at Geochang Changpopyeon.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam Province, will conduct a joint administrative work session for Gyeongnam Province and city/county officials from July 12 to 15 at Geochang Changpowon, with 19 participants from the province and city/county offices to calculate the basic statistics for the 2023 ordinary local allocation tax.

The ordinary local allocation tax is a system that allocates national tax revenue to cover the shortfall between basic administrative execution expenses and local tax and other self-generated revenue, ensuring that all local governments can provide a certain level of administrative services. Unlike designated national subsidies, it is a general fund that local governments can use autonomously.

This basic statistics work involves verifying the consistency between central statistics and statistics input by each local government, checking statistical ledgers and supporting documents, and analyzing causes of increases or decreases in statistics. It is used as data to calculate the standard administrative demand for the ordinary local allocation tax and constitutes the most important part of the tax calculation.

The preparation of the basic statistics for the ordinary local allocation tax will be completed by the end of August after verification, inspection, and correction in July and August. The allocation for next year will be preliminarily notified to each local government around October.

Deputy Governor Kim Tae-hee visited the joint work site on the first day, July 12, saying, “We sincerely welcome the visit of Gyeongnam Province and city/county officials to Geochang-gun,” and added, “Please do your best in the calculation work of the basic statistics for the ordinary local allocation tax, which is a resource necessary for meeting local administrative demand and promoting key growth engine projects.”

Geochang-gun secured 259 billion won in ordinary local allocation tax this year, an increase of 19.1% compared to 217.3 billion won in the previous year based on the initial budget, and plans to continue focusing on securing local allocation tax by continuously discovering new projects and actively making proposals through frequent visits to central government ministries.

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