Gyeonggi-do Operates 'Focused Filing and Payment Period' for Corporate Local Income Tax in April

Gyeonggi Province will operate a concentrated reporting and payment period for local corporate income tax throughout April.

The reporting targets are for-profit corporations whose fiscal year ended in December last year, non-profit corporations engaged in revenue-generating businesses, and foreign corporations with domestic source income.

Corporations with no income or with losses must also file by the 30th. Failure to report and pay within the deadline will result in additional penalties.

The reporting and payment methods include filing online through Wetax (wetax.go.kr) within four months from the fiscal year-end date, or submitting by mail or visiting in person at the city, county, or district office where the business is located.

Gyeonggi Provincial Government

Corporations with multiple business locations must report to the city, county, or district office where each business site is located according to the apportionment ratio.

The apportionment ratio refers to the proportion used to appropriately allocate the tax amount payable to each local government based on factors such as employee salaries or asset size when a corporation operates businesses in multiple regions.

Meanwhile, as part of tax administration support, Gyeonggi Province will extend the payment deadline to July 31 without a separate application for small and medium-sized export companies, small and medium-sized companies represented by victims and bereaved families of the Jeju Air passenger plane accident, and small and medium-sized companies located in special disaster areas.

In addition, corporations that have suffered significant business losses can extend the payment deadline through a separate application. However, only the payment deadline is extended; the reporting must be completed by April 30 without fail.

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