Gangdong-gu Office Notifies Taxpayers of Filing and Paying Corporate and Local Income Taxes in April

- Filing and payment for corporate and local income taxes for the 2022 fiscal year due by May 2^nd

- Payment due date for SMEs engaged in exports and located in areas designated as special employment and industrial crisis zones extended by three months

On the 13^th, Gangdong-gu Office (Head: Lee Soo-hee) announced that it has sent notice to corporations and tax agents in the area to help them understand the revised corporate and local income tax laws and to improve taxpayer convenience.

According to the office, corporations that close their fiscal year in December must file and pay their corporate and local income taxes for the 2022 fiscal year by May 2^nd.

Small and medium-sized enterprises (SMEs) engaged in exports, as well as SMEs located in areas designated as special employment and industrial crisis zones, will have a three-month extension of the payment due date, which has been extended from the original end of April to the end of July. Even for corporations that do not fall under the extension category, Gangdong-gu Office will grant an extension upon request for corporations that have suffered significant losses in their businesses. (* The declaration remains the same; only the payment due date is extended by 3 months.)

For taxpayers, the location of the headquarters or main office according to the corporation's registration records (or the location of each business establishment, if there are two or more) as of the end of the business year is considered their place of business. However, if a corporation has offices in two or more districts within a metropolitan city or province, it must declare and pay corporate and local income taxes for that metropolitan city or province where the headquarters or main office is located.

Taxpayers can file and pay corporate and local income taxes online (by file upload) through the website (wetax.go.kr). If online filing is not possible, they can also visit the Local Income Tax Division at Gangdong-gu Office or file by mail.

"As the filing and payment due date approaches, internet access may be difficult, and inconvenience is expected due to increased workload at financial institutions. Therefore, we strongly recommend filing and payment in advance,” said Shin Yong-jae, director of the Local Income Tax Division at Gangdong-gu Office.

For any inquiries regarding corporate and local income taxes, contact the Local Income Tax Division of Gangdong-gu Office.

Gangdong-gu Office