Osan City: 10% Tax Credit for Advance Payment of Vehicle Tax in January

Osan City in Gyeonggi Province (Mayor Kwak Sang-wook) announced on the 7th that it will accept applications for vehicle tax 'annual payment' (advance payment) which offers a 10% tax credit on annual vehicle tax for those who pay early in January.

The vehicle tax annual payment (advance payment) system is a new approach replacing the existing payment method where vehicle tax is split into two installments annually (in June and December, or once in June for annual amounts under 100,000 won) based on the vehicle's operation period. Under the new system, from the 16th to 31st of January (extended to February 3rd as the payment deadline falls on a holiday), taxpayers can pay the entire year's vehicle tax at once and receive a 10% vehicle tax credit benefit.

The target vehicles for vehicle tax annual payment (advance payment) application are those registered in Osan City as of January. Applications can be made by calling the Osan City Hall Tax Department at 8036-7171, visiting in person, or applying through the internet portal Wetax (www.wetax.go.kr) and paying immediately afterward.

Those who apply for advance payment or annual payment of vehicle tax can check tax details through CD/ATM machines at all banks nationwide without a bill notice and pay using bankbooks or credit cards. Payments can also be made through Osan City's local tax ARS at 1588-6074 using credit cards or mobile payment (up to 300,000 won).

Those who made annual payments last year will receive annual payment notices along with new applicants without separate application. If payment is not made by the 3rd of next month (deadline date), the charge will be automatically cancelled and taxpayers will revert to the existing payment schedule in June and December.