Ulsan Ulju-gun Operates August Resident Tax Business Place Reporting and Payment Period

Ulsan City Ulju-gun will operate the resident tax (business place portion) reporting and payment period throughout August.

The resident tax obligors are business owners who had business places in Ulju-gun as of July 1. Due to amendments in the Local Tax Act, individual business owners with a value-added tax taxable base of less than 80 million KRW in the previous year are excluded from taxation.

The tax amount is determined by summing the basic tax amount (formerly the equalization portion) and the total floor area tax amount (formerly the property portion).

The basic tax amount is 50,000 KRW for individual business owners as before, and for corporate businesses, it ranges from 50,000 to 200,000 KRW depending on the capital amount bracket. The total floor area tax applies only to business places exceeding 330㎡ and is calculated by multiplying 250 KRW per 1㎡.

Ulju County Office.

Ulju-gun plans to send payment slips indicating the taxable base reflecting the status of business places and the tax amount to be paid to the payees on the 5th to facilitate smooth reporting and payment within the deadline. Additionally, a simplified reporting service will be provided, where taxpayers are considered to have reported once they pay the tax amount.

An official from Ulju-gun stated, “Since the resident tax is a tax item reported by taxpayers according to the status of their business places, we ask that you carefully verify whether the payment slip matches the status of your business place and make the payment within the deadline.”

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