Yangju City Levies 1.5 Billion Won in August Resident Tax

Yangju City imposed 1.5 billion won in resident tax (equal share) for August 2017 on a total of 91,465 cases.

This represents an increase of approximately 78 million won (4%) compared to 2016, attributed to population inflow as the city's population increased by 4,426 people (2.1%) year-over-year and the number of households increased by 3.8% (3,061 households).

Resident tax is a local tax levied equally on individuals and corporations. It is imposed on individual heads of households and corporations or individual business operators with addresses or business locations within the city. The individual equal share and individual business location share are fixed taxes of 11,000 won and 55,000 won respectively, while the corporate equal share is levied differently depending on capital and the number of employees.

If an individual is both a business operator and a head of household at their residential address, they must pay both the individual equal share and the individual business location share.

The payment period runs from the 16th to the 31st of this month. Failure to pay within this period will result in an additional 3% surcharge. Payment can be made at any financial institution nationwide, and card payments are also available at Yangju City Hall's Tax Affairs Division and at eup·myeon·dong neighborhood offices.

Additionally, with the introduction of electronic payment (www.wetax.go.kr), ARS payment (080-999-3300), automatic transfer, and especially the "Smart WesTax" app mobile payment service, which allows inquiry and payment of local taxes nationwide via smartphone, payment can be made through increasingly diverse and convenient methods.