Gyeonggi-do Prepares Tax Support Measures for Residents Affected by Heavy Rain Damage

Gyeonggi Provincial Government

Gyeonggi Province has prepared tax support measures for residents affected by heavy rainfall.

On the 14th, Gyeonggi Province explained that if automobiles, buildings, etc. are damaged by natural disasters such as floods and new buildings or automobiles replacing them are purchased within two years, acquisition tax can be exempted.

Also, if a car is submerged and becomes unusable, automobile tax will be exempted based on the date of flooding.

If property tax or acquisition tax that has already been notified or reported due to flood damage cannot be paid by the payment deadline, a report can be submitted to the local city or county office to extend the payment deadline by up to one year.

For defaulters, collection can be deferred or delinquent disposition can also be postponed.

Delinquent disposition refers to the seizure of the defaulter's property and its disposal through public auction or other procedures by the state or local government to forcibly collect delinquent local taxes.

In addition, companies affected by the damage can postpone tax audits, and administrative support such as early payment of local tax refunds can be provided to reduce tax burdens.

Choi Won-sam, head of the Taxation Division of Gyeonggi Province, said, "If you have suffered property damage due to heavy rainfall, it is necessary to check with the tax department of your local city or county what tax support is available," adding, "Gyeonggi Province plans to continuously monitor natural disaster damage situations and proactively respond when tax support is needed to help affected residents return to their daily lives as much as possible."

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