Gyeonggi Province to Defer Tax Investigations for Businesses Affected by COVID-19
Suwon NewsPublished 2020.03.22 07:23
Gyeonggi Province targets travel, performance, distribution, lodging, and food service industriesRefrains from in-person inspections, actively participates in 'social distancing campaign' through documentary investigations
[Suwon Ilbo=Reporter Park No-hun] Gyeonggi Province announced on the 22nd that it will defer tax investigations for businesses experiencing difficulties due to COVID-19.
The deferral targets include ▲travel agencies ▲performance companies ▲distribution businesses ▲lodging facilities ▲food service companies and other enterprises that have suffered direct or indirect damage due to multiple confirmed COVID-19 cases within their workforce or prolonged closures following visits by confirmed cases.
When affected businesses apply for deferral and mayors or county chiefs approve, tax investigations can be postponed for a certain period. If approval is obtained while a tax investigation is already underway, the investigation will be temporarily suspended.
However, exceptions apply in unavoidable cases, such as when the statute of limitations for tax assessment is approaching.
The province plans to actively participate in the 'social distancing campaign' by refraining from in-person inspections of businesses until the COVID-19 situation stabilizes, while maximizing the use of documentary investigation methods.
Meanwhile, the province launched the '2020 Regular Local Tax Investigation' on the 13th, targeting 90 real estate acquisition corporations in the province.
Yi Eui-hwan, Director of the Tax Justice Division, stated, "We empathize with businesses' difficulties due to COVID-19 and will do our best to ensure that support can be felt by affected small and medium-sized enterprises," and added, "We will conduct thorough investigations of tax evading businesses."
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