Damyang-gun is stepping up outreach and guidance to help taxpayers complete their resident tax filings and payments before the August deadline.
The resident tax uses July 1 each year as its assessment base date and is divided into two categories: an individual portion and a business premises portion.
The individual portion applies to heads of household registered in Damyang-gun as of the base date, as well as foreign nationals who have resided there for at least one year. The payment period runs from Aug. 16 through Aug. 31. The total amount due, including local education tax, is 11,000 won ($8).
The business premises portion covers corporations with a place of business in Damyang-gun and individuals whose value-added tax base from the previous year was at least 80 million won ($58,000). The payment period runs from Aug. 1 through Aug. 31. For taxpayers' convenience, payment notices listing the tax amount and payment period will be sent out in bulk in early August.
If the taxable base and amount shown on the notice match the actual status of the business premises, taxpayers may simply pay the amount stated on the notice without filing a separate return. However, if the details differ from the actual situation, taxpayers must visit Wetax, the county office, or a township office to file a corrected return and then pay using a newly issued notice.
Resident tax can be paid through a variety of channels, including ATMs at financial institutions nationwide, Wetax and Smart Wetax (mobile app), internet giro, local tax deposit accounts, and automated phone (ARS) services.
Taxpayers who miss the filing or payment deadline may face penalties, including surcharges, so those subject to the tax are urged to confirm the payment period in advance and complete their obligations on time.
sij@heraldcorp.com
