Seoul City "Pay Your Car Tax Annually in January for the Biggest Benefits"

Seoul City announced on the 9th that it is accepting applications for the ‘Annual Lump-Sum Payment’ to reduce automobile tax. By paying the annual amount all at once in ‘January,’ taxpayers can save 5% on the remaining 11 months (February to December), making it the most beneficial time of the year.

On the 12th, Seoul City will send out the ‘2024 January Automobile Tax Annual Payment Notice’ simultaneously and start accepting applications for the ‘Annual Lump-Sum Payment’ from the 16th. After applying, payment can be made by phone, website, or smartphone app (STAX) by the 31st.

If you paid last year’s automobile tax annually (in advance), you do not need to apply again this year, as the annual payment notice will be sent automatically. Although annual payment can also be applied for in March, June, and September, a 5% discount on the tax for the remaining period until the end of the year is given, so paying in January offers the greatest savings.

If you transfer ownership or scrap your vehicle after paying the annual automobile tax, you can receive a refund for the remaining period excluding the days you owned the vehicle.

Kim Jin-man, Director of the Seoul City Finance Bureau, said, “We hope many citizens can ease their household burdens even a little through the ‘January’ lump-sum payment, which offers the greatest automobile tax savings,” and added, “We will continue to provide systems and policies that allow citizens to pay taxes more conveniently and reasonably.”

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