The National Tax Service said on the 23rd it will extend the corporate tax payment deadline for mid-sized and small corporations facing management crises by three months, from March 31 to June 30. It also said that if a refund arises, it will pay by April 10, which is 20 days earlier than the statutory deadline.
According to the National Tax Service, about 100,000 corporations are subject to the extension of the corporate tax payment deadline. By type of corporation: ▲ corporations in petrochemicals, steel, and construction whose sales last year decreased from the previous year (65,000) ▲ mid-sized and small corporations located in Yeosu, Pohang, Seosan, Gwangju Gwangsan District, Ulsan Nam District, and Gwangyang, South Jeolla Province, which the government selected as regions for preemptive responses to employment and industrial crises (26,000) ▲ mid-sized and small corporations whose 30% of last year's sales came from exports and whose sales decreased from the previous year (13,000).
The National Tax Service said, "If corporations apply to further extend the payment deadline to the end of this year, we will actively review it." It also said, "We will exempt the provision of tax payment collateral up to 100 million won."
Meanwhile, the number of domestic and foreign corporations required to file corporate tax by March 31 this year is 1.18 million, up 30,000 from the previous year.