The National Tax Service announced on the 27th that it will provide tailored filing assistance materials suited to each corporation through Home Tax ahead of the March corporate tax filing for corporations with a settlement of account in December.
The National Tax Service will expand assistance material items, including health insurance premium payment details and the tax base conversion of corporations with a business year of less than one year. It also provided detailed guidance on transaction details such as the location of non-business land and dwellings, as well as transfer dates, to enhance the usability of filing assistance materials.
The National Tax Service has strengthened its guidance on vulnerable areas by individually notifying corporations that do not attach exclusive license plates for business-use cars or inappropriately adjusted the tax treatment of unique purpose reserve and income dividend.
Corporations that have increased employment can apply the existing employment increase tax credit and social insurance tax credit until this year's filing, or they can apply the integrated employment increase tax credit newly established from the 2023 tax year. To allow the selection of the more advantageous tax credit system between the two methods, the National Tax Service has posted a tax credit simulation calculation program on its website.
The National Tax Service stated that after reviewing last year's filing information, it was found that more than 2,100 corporations incorrectly reported taxes amounting to over 140 billion won. It showed that they frequently made mistakes such as over-receiving tax credits or reductions due to calculation errors of the number of exempt targets or regular employees, or failed to convert the tax base to 12 months when the business year was less than one year.
Cases of traditional methods, such as fraudulent wage payments and the private use of corporate assets, were detected, as well as abuse of patent rights to unfairly offset the representative director's loan or exploit tax reduction opportunities for start-up companies in crisis regions.
A National Tax Service official noted, "In cases where well-meaning taxpayers mistakenly file incorrectly, they will have to bear not only the corporate tax originally due but also additional tax. By reflecting the filing assistance materials provided by the Service, you can reduce the burden of additional tax."