Kim Chang-gi, Commissioner of the National Tax Service, "Will Provide Multifaceted Tax Support in the Aerospace Sector"

Meeting for On-site Communication with Aircraft Parts Manufacturing Company

Kim Chang-gi, Commissioner of the National Tax Service, announced on the 5th, "We will provide multifaceted tax administration support through proactive measures to help aircraft parts manufacturing companies gain competitiveness in the global market."

On the same day, Commissioner Kim visited the Jinju Root Technology Support Center and held an on-site communication meeting with small and medium-sized enterprises, including aircraft parts manufacturers.

This meeting was organized to listen to field opinions and discuss support measures for the innovative growth of key industries in the southeastern region, such as the aerospace industry, in Jinju, Gyeongnam, which has been designated as a space industry cooperation zone.

Commissioner Kim stated, "Amid ongoing global economic uncertainties such as the global economic slowdown and increased volatility in financial markets, we will focus our tax administration capabilities to support regional economic revitalization and strengthen industrial competitiveness. For innovative SMEs recognized for their aircraft parts manufacturing technology, we basically exclude them from the scope of report content verification and prioritize the pre-review of tax credits for research and human resource development expenses to support their innovative growth."

In addition, the National Tax Service is supporting securing liquidity by extending payment deadlines and early refund payments during the first VAT preliminary filing period of 2023. In particular, the special exemption period for tax payment guarantees applied to self-employed individuals and SMEs affected by COVID-19 has been extended until the end of this year.

The company representatives attending the meeting requested ▲ tax support for investment in aerospace projects ▲ increase in the tax credit rate for research and human resource development expenses ▲ income tax reduction for SME workers.

Kim Chang-gi, Commissioner of the National Tax Service, is speaking at an on-site communication meeting with small and medium-sized enterprises, including aircraft parts manufacturing companies, held at the Jinju Root Technology Support Center.

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