Pohang City Supports Wildfire-Affected Businesses and Citizens with Unsecured Local Tax Payment Deferral

Up to Two Years of Local Tax Collection Deferment Without Collateral
for Wildfire-Affected Taxpayers

Pohang City has decided to provide unsecured local tax collection deferment support for businesses and citizens affected by the large-scale wildfire in the North Gyeongsang region.

The city plans to provide faster taxpayer support, including deadline extensions for reported local taxes and collection deferments for assessed local taxes.

In addition, if citizens who suffered personal or property damage from the wildfire apply for local tax deadline extensions or collection deferments, they will only be required to submit a 'Damage Confirmation Certificate' without collateral such as tax payment guarantee insurance or mortgage registration, thereby reducing the burden on wildfire-affected taxpayers and simplifying the required documents.

The collection deferment and deadline extension system allows taxpayers to postpone their local tax payments by resetting the payment deadline if it is recognized that they are unable to pay on time due to reasons such as severe property loss from natural disasters, fires, or theft.

The deferment period is basically six months from the day after the deferment is granted and can be extended up to one year. However, in cases such as this large-scale wildfire in the North Gyeongsang region, where Pohang citizens suffered damage in areas designated as 'special disaster zones,' the local tax payment can be deferred for up to two years.

The city also plans to actively support businesses facing serious operational difficulties due to wildfire damage if they apply for a postponement of tax audits.

Park Jaegwan, Director of the Autonomous Administration Bureau, said, "We hope that this local tax support measure will help heal the wounds and pain suffered by those affected as quickly as possible," and added, "We will continue to explore various support measures for affected businesses and citizens to provide practical assistance."

Pohang City Hall.

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