Incheon City Selects Diligent Taxpayers for Benefits Including Preferential Interest Rates and Fees at City Treasury Banks

Incheon City announced on the 27th that it will select around 1,000 diligent taxpayers in the second half of this year and provide support benefits to foster a sound taxpaying culture.

The eligible individuals are those with an address in Incheon or organizations/corporations with business locations in Incheon, who have no record of local tax delinquency in the past 10 years and have paid at least two local tax bills in full and on time each year. The city plans to select diligent taxpayers through recommendations from districts and counties and review by the city’s Local Tax Deliberation Committee.

Diligent taxpayers will receive a certificate and have their names publicly announced on the city’s official website for promotion. Additionally, benefits such as preferential interest rates and fee discounts at the city’s treasury banks (Shinhan and NongHyup), reduced guarantee fees from the Incheon Credit Guarantee Foundation, exemption from local tax audits, and exemption from local tax collection deferral guarantees will be provided.

Earlier, on the 14th, the city enacted and promulgated the "Incheon City Diligent Taxpayer Preference and Support Ordinance."

Kim Sang-gil, Incheon City’s Financial Planning Officer, said, "We thank the taxpayers who have faithfully fulfilled their local tax obligations despite difficult economic conditions," and added, "We will make further efforts to ensure diligent taxpayers are favored and to foster a mature taxpaying culture."

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