Hongseong County to Operate Intensive Reporting Period for Local Corporate Income Tax Attributed to April

Warning Issued Regarding Penalties for Non-Filing

Hongseong County Office

Hongseong County, Chungnam Province, announced on the 31st that the month of April will be designated as the intensive filing and payment period for 2024 corporate local income tax.

This applies to corporations with a fiscal year ending in December 2024, and even if there is no taxable income or only a deficit, filing is still mandatory.

If a business has multiple locations in different local governments, it must file not only in the jurisdiction of its headquarters but also in each local government where its branches are located. If a corporation subject to allocation fails to allocate and files only in one local government, a penalty for non-filing will be imposed.

In particular, corporations should be careful, as a penalty for non-filing will be imposed if required documents are not submitted or if a corporation subject to allocation fails to allocate and files only in one local government.

Filing can be done in person at the county tax office, by mail, or electronically through Wetax without the need for a separate visit.

If the tax amount due exceeds 1 million won, it is possible to pay in installments within one month after the payment deadline (two months for small and medium-sized enterprises).

A county official urged, "To avoid a last-minute rush on the filing deadline, please use Wetax to file and pay in advance."

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