Suwon Imposes January 2014 Registration and License Tax

Suwon imposed 2.029 billion won in registration and license tax on 54,773 cases for the regular January 2014 assessment.

According to the city on the 13th, the license tax imposed this time increased by 777 million won compared to last year due to higher registration and license tax rates following amendments to relevant regulations and the addition of new subjects for registration and license tax assessment.

Registration and license tax on licenses is levied on the establishment of rights, lifting of prohibitions, or acceptance of reports regarding specific business facilities or activities related to various permits, authorizations, licenses, registrations, designations, inspections, and other similar matters. It is assessed annually on individuals holding licenses as of January 1st, divided into Categories 1 through 5.

Suwon's registration and license tax is assessed as follows due to tax rate increases from amendments to regulations: Category 1 at 67,500 won, Category 2 at 54,000 won, Category 3 at 40,500 won, Category 4 at 27,000 won, and Category 5 at 18,000 won.

Considering that the January payment deadline falls on a holiday, this registration and license tax can be paid by February 3rd through all financial institutions nationwide, including Agricultural Cooperatives and post offices.

Payment is also possible through the Smart Invoice app or the ARS payment system (031-228-3651). Internet payment can be made through Wetax (www.wetax.go.kr), Giro (www.giro.or.kr), and credit card company websites.