Chungnam Province Offers Local Tax Relief and Rental Fee Reductions for Residents Affected by Heavy Rainfall

Acquisition Tax Exemption, Payment Deferral, and Public Property Rental Fee Reduction...
"Full Commitment to Practical Recovery Support"

Chungnam Provincial Government Office Exterior View

On July 24, the Chungnam Provincial Government announced that it will provide a wide range of tax relief measures for residents affected by the recent record-breaking heavy rainfall, including local tax reductions, payment deferrals, and reductions in rental fees for public property.

According to the province, acquisition tax and registration license tax will be exempted when residents replace vehicles damaged or destroyed by the torrential rain, or when they acquire replacement homes, livestock barns, or agricultural machinery.

In addition, to ease the burden on local taxpayers, the payment deadline for declared and payable items such as acquisition tax will be extended by up to one year. Taxpayers may also be granted collection deferrals or allowed to pay in installments. For those with tax arrears, property seizures or sales will be postponed for up to one year.

Even stronger benefits will be provided to residents who have suffered personal injury. For deceased individuals and their surviving family members (parents, spouses, or children), all local taxes for this year?including resident tax, property tax, local resource and facility tax, automobile tax, and acquisition tax arising from inheritance?will be fully exempted.

Additionally, rental fees for public property managed by the province will be reduced.

The rental period may be extended by the amount of time the property could not be used due to the disaster. Customized measures, such as reductions in rental rates, payment deferrals, and reductions in late fees, will also be implemented following review by the Public Property Review Committee.

Lim Seongbeom, head of the Taxation Division at the provincial government, stated, "We will provide prompt and flexible support to ensure that these measures offer practical help to residents affected by the heavy rainfall," adding, "We will continue to respond proactively to damage situations and make administrative efforts to support the recovery of our residents."

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