August: The Month for Local Tax Payment
August is the month for paying local resident taxes!
As the hot summer continues in August,
there is a local tax you must remember to take care of.
This is the individual and business resident tax.
Let me guide you through the payment and reporting methods in Sinan County.
Individual Resident Tax
▶ Who Needs to Pay
Heads of households residing in Sinan County as of July 1, 2026.
※ Individual resident tax is imposed on the head of the household.
▶ Payment Amount
11,000 KRW
▶ Payment Period
August 16, 2026 - August 31, 2026
Business Resident Tax
▶ Tax Obligors
Individuals and corporations with a business in Sinan County as of July 1, 2026.
However, individual business operators are exempt if their previous year's VAT taxable amount is less than 80 million KRW.
▶ Payment Amount
Individual businesses: Basic amount 50,000 KRW
Corporate businesses: 50,000 KRW - 200,000 KRW depending on capital
If the total floor area exceeds 330㎡, an additional tax of 250 KRW per ㎡ will be charged for the excess area.
▶ Reporting and Payment Period
By August 31, 2026
▶ Reporting and Payment Methods
For taxpayer convenience, Sinan County has sent out payment forms reflecting the status of business operations.
If the tax amount and business status on the payment form are correct, payment of the amount stated within the deadline will be considered as reported and paid without additional reporting.
If you have received a payment form, please check the details and make your payment conveniently.
Pay Your Resident Tax Conveniently
Resident tax can be paid at any financial institution nationwide, through CD/ATM, or by credit card.
Internet payment is also possible through the WiTax system, so please use the method that is most convenient for you.
Most importantly, make sure to keep the payment deadline!
After the deadline, penalties may apply, so please remember to report and pay within the period.
If you have any questions about resident tax, please contact Sinan County.
Sinan County will continue to provide thorough guidance to help residents report and pay local taxes more conveniently.
Source :https://blog.naver.com/1004_shinan/224377361322
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