Corporate tax mid-year prepayment reporting and payment by September 2nd for December financial statement closing.

Corporations totaling 517,000… Deadline for payment extension for companies affected by heavy rain disasters extended by two months,
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Corporate income (PG)
[Illustration by Jang Hyun-kyung],
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, ‘ (Sejong=Yonhap News) Reporter Min Kyung-lak = Corporations with December closing dates must report and pay the interim tax amount by September 2, the National Tax Service announced on the 31st.’,
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, ‘ The target for interim tax payment includes domestic profit-making corporations with a business year of more than 6 months, non-profit domestic corporations with import businesses, and foreign corporations with domestic business establishments.’,
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, ‘ The number of reporting corporations is 517,000, which is 1,000 less than the previous year (518,000). The interim tax payment period is from January 1 to June 30 this year.’,
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, ‘ Corporations can pay 50% of the taxable amount from the previous business year or report and pay based on their first-half business performance.’,
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, ‘ However, small and medium-sized enterprises with a taxable amount calculated based on the previous business year of less than 50,000 won are exempt from interim tax payment.’,
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, ‘ If the tax amount to be paid exceeds 10 million won, it can be paid in installments from the day after the payment deadline to up to 1 month, or for small and medium-sized enterprises, up to 2 months.’,
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, ‘ Reporting corporations can electronically report via Home Tax from the 1st of the following month.’,
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, ‘ By utilizing the pre-filled service that automatically calculates the interim tax amount based on the previous business year’s taxable amount, corporations can report without any hassle.’,
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, ‘ Companies affected by heavy rain disasters or facing difficulties due to decreased sales can have their payment deadline extended from September 2 to November 4 by 2 months without the taxpayer’s request.’,
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, ‘ The National Tax Service explained that if companies experiencing significant losses in their businesses apply for an extension of the payment deadline, they will actively review and support such requests.’,
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, ‘ rock@yna.co.kr’,
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