South Korea Tax Agency Announces Tax-Related Deadline Information for Taxpayers Living in Special Disaster Areas

The South Korean National Tax Service March 26 announced information on tax filing and payment deadlines for taxpayers living in special disaster areas. The announcement includes measures to: 1) extend the deadline, to June 30 from March 31, for the payment of corporate taxes by qualified small and medium-sized enterprises (SMEs); 2) allow business owners in special disaster areas to postpone the seizure and sale of their seized property for up to two years if they have unpaid taxes; 3) allow taxpayers in special disaster areas to apply for payment deadline extensions for corporate tax, VAT, and comprehensive income tax, ...