Busan Urban Corporation Provides Customized Accounting and Tax Risk Prevention Training for Construction Industry

Accounting and Tax FAQ Response Training for All Employees

Publication of Cumulative Advisory Materials Since 2023 Planned

Busan Metropolitan Corporation (BMC, President Kim Yonghak) announced on the 1st that it had conducted customized financial information training for the construction industry to enhance all employees' knowledge of accounting and taxation.

This training focused on frequently asked questions related to accounting and taxation tasks that have arisen since 2023.

For this training, BMC classified questions into detailed categories such as corporate tax, value-added tax, and local taxes, and conducted in-house education based on organized information on relevant laws and precedents for each topic.

In particular, five topics that are commonly asked about in the course of work were covered in detail, including whether value-added tax is applicable to projects commissioned by Busan City, the timing of tax invoice issuance for sales stores, and the tax base for withholding taxes on other income such as review fees.

Additionally, BMC plans to publish a reference book on accounting and taxation tasks after review by an external professional organization (an accounting firm) around November.

Kim Yonghak, President of Busan Metropolitan Corporation, stated, "Through accounting and taxation training, I hope all members will pursue business management based on a financial mindset," and added, "We will work together to enhance transparency in accounting and taxation so that we can become a corporation trusted by citizens."

Busan Urban Corporation

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