Pyeongtaek City Extends Local Tax Payment Deadlines and Suspends Collections for COVID-19 Affected Citizens

[Suwon Ilbo=Reporter Seo Dong-young] Pyeongtaek City announced on the 2nd that it is providing benefits to taxpayers facing difficulties due to COVID-19, including extensions of local tax payment deadlines and suspension of tax collections.

The beneficiaries include residents who have suffered direct or indirect damage, such as business closures due to quarantine or confirmed cases, and confirmed COVID-19 cases experiencing economic hardship.

For tax items such as acquisition tax, local income tax, and employees' resident tax that are subject to reporting and payment, reporting and payment deadlines have been extended. For existing local tax assessments and overdue tax amounts, collection has been suspended for those unable to pay. The suspension period can extend up to six months (with possible extension to a maximum of one year).

The city extended reporting and payment deadlines for 23 business establishments (888.9 million won) experiencing temporary financial difficulties due to business closures following confirmed case visits and significant revenue declines resulting from delayed collection of accounts receivable. Six business establishments (292 million won) were granted collection suspension.

A city official stated, "Going forward, we will implement sympathetic tax administration to assist taxpayers within the scope permitted by local tax laws when citizens face difficulties such as revenue declines due to COVID-19 damage."