Child Allowance Benefits 810,000 Households... 2.3 Times Increase Compared to Last Year

National Tax Service to Disburse on 29th... One Month Ahead of Legal Deadline
Unapplied Households Can Apply Until December 2nd

The National Tax Service announced that it will pay the '2023 Earned Income Tax Credit and Child Tax Credit' one month earlier than the legal deadline (September 30), on the 29th, to provide prompt support to low-income households who work but have low income and face difficulties in daily life.

The number of eligible households has increased by 380,000 from last year to 2.99 million households, and the amount paid will increase by 343.1 billion KRW to a total of 3.1705 trillion KRW. The average payment per household is 1.06 million KRW.

In particular, this year, the income threshold for the Child Tax Credit, which supports child-rearing expenses, has been relaxed from a combined couple income of 40 million KRW to 70 million KRW, resulting in 810,000 households receiving the Child Tax Credit benefit, 2.3 times more than last year.

The National Tax Service has notified the screening results via mobile or mail. The screening results can also be checked through the Tax Credit Counseling Center, the automated response system, and Hometax (mobile and PC).

Households that meet the 2023 Earned Income Tax Credit and Child Tax Credit application requirements but have not yet applied can apply using the automated response system and Hometax until December 2.

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