Gwangjin-gu, Guidance on Submission of Special Withholding Tax Statement for Corporate Local Income Tax
Targeting 248 Local Businesses with Corporate Local Income Tax Special Withholding Records Last Year... Encouraging Submission of Special Withholding Statements Online or in Writing by the 29th
Submitted Special Withholding Statements Will Be Used as Verification Data for Prepaid Tax Amounts During Corporate Local Income Tax Final Filing
Gwangjin-gu (District Mayor Kim Kyung-ho) is informing 248 business establishments subject to special withholding tax on corporate local income tax to submit the 2023 corporate local income tax special withholding statement by the 29th.
A 'special withholding taxpayer for corporate local income tax' refers to those who pay 10% of the corporate tax withheld amount as a special withholding portion of local income tax when paying interest or dividend income to domestic corporations and foreign corporations with business establishments in Korea.
According to the Enforcement Decree of the Local Tax Act, special withholding taxpayers must prepare and submit the special withholding statement by the end of February of the following year. The submitted statement is used as verification data for the corporate local income tax final return and as settlement data for special withholding tax amounts among local governments nationwide.
The special withholding details can be submitted electronically by accessing the Wetax or Etax websites, and paper submissions are also possible by mailing to the Tax Division 2 of Gwangjin-gu Office.
As the submission deadline approaches, the district sent reminder notices to the relevant corporations on the 13th and is actively promoting this through the district website and other channels.
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Kim Kyung-ho, Mayor of Gwangjin-gu, said, “We ask that you accurately prepare and submit the special withholding statement within the deadline to ensure smooth processing of the corporate local income tax final return and settlement.”
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