[Photo by Lee Seung-hwan]
The South Korean government announced tax relief programs for merchants and individuals that have fallen victim to the new coronavirus and outbreak of the contagious disease.
The Ministry of Interior and Safety announced Wednesday that it will ease the tax-related burden of people hit hard by the outbreak including patients, suspected patients in quarantine and business owners who had to temporarily close down their operation.
Local governments can postpone deadlines of tax filing and payments for six to 12 months for victimized taxpayers. For instance, a victim whose tax payment due falls on Mar.30 can delay the deadline at least until Sep. 30. The victims can also ask for deferring tax bill issuance.
In addition, the government is mulling exempting local taxes for people who are seriously damaged by the outbreak for a prolonged period of time. Tax audits can also be postponed.
The interior and safety minister Chin Young said the ministry will give full support to help contain the crisis as quickly as possible and grant administrative and financial support to the victims.
By Choi Mira
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]