South Korea Tax Agency Issues Press Release on Various Tax Measures

The South Korean National Tax Service Aug. 8 issued a press release on various tax measures. The press release includes measures to: 1) provide up to a nine month extension, upon request, for interim prepayments of corporate tax for December settlements that are due on Sept. 2; 2) specify procedures on applying for a payment deadline extension online; 3) explain that taxpayers with delinquent national taxes are subject to seizure and sale; 4) provide up to a one year deferral, upon request, for the sale of a taxpayer’s property; and 5) postpone tax verification with respect to the confirmation of ...