Incheon Begins August Resident Tax Collection… 14.1 Billion Won Levied Through the 31st

The Incheon Metropolitan Government has urged residents to file and pay on time as August, the resident tax payment month, gets under way. This year the individual portion was levied on some 1.14 million cases, totaling 14.1 billion won.

[코리안투데이] A view of Incheon Metropolitan City Hall © 장형임 기자

The Incheon Metropolitan Government (Mayor Park Chan-dae) announced that, with the arrival of August, the designated resident tax payment month, it is urging those liable to file and pay within the deadline.

Resident tax is divided into an individual portion and a business-place portion. The individual portion is levied on household heads registered in Incheon and foreign nationals residing for one year or longer as of the tax base date of July 1 this year, with the payment period running from August 16 to August 31. Corporations with a business place in Incheon and sole proprietors whose value-added tax base for the previous year was 80 million won or more are subject to the business-place portion and must file and pay from August 1 to August 31. This year the individual portion amounts to about 1.14 million cases and 14.1 billion won.

For the business-place portion, the city sent out payment notices in early August, stating the tax amount and payment period in advance for taxpayers’ convenience. If the tax base and rate listed on the notice match the actual status of the business place, taxpayers may simply pay the stated amount without filing separately. However, if the actual status differs, they must file a corrected return through the Wetax website or by visiting the competent gun or gu office before making payment.

There are various ways to pay. Payment can be made easily through automated teller machines (ATMs) at banks nationwide, or via internet Wetax, Smart Wetax (the mobile app), online account transfer, or telephone (ARS).

The city was especially wary of payments piling up on the deadline. It explained that on the final payment day, Monday, August 31, access to the payment system may surge and processing times may be delayed, so it is safer to pay ahead of the deadline where possible.

Kim Beom-su, the city’s finance planning officer, said, ‘If you miss the resident tax payment deadline, additional financial burdens such as penalty taxes may arise, so please be sure to pay within the deadline,’ adding, ‘We will continue to strengthen administrative support so that residents can file and pay their taxes more conveniently and quickly.’

Resident tax is a tax item premised on the idea that members of a community jointly bear the basic funding needed to run the local community. Paying within the deadline is also a way to avoid unnecessary penalty tax burdens.

지역 홍보대사 신청 기자양성과정 신청 코리안투데이 지부장 신청 코리안투데이 인천강화