Youngdeungpo-gu Announces Submission of Special Corporate Local Income Tax Collection Reports

[Suwon Ilbo=Reporter Seo Dong-young] Youngdeungpo-gu, Suwon announced on the 10th that it plans to send notices soon to approximately 200 obligated special collection entities, including financial institutions and corporations, regarding the submission of special collection reports for interest and dividend income withheld in 2019 for corporate local income tax.

Businesses that paid interest and dividend income to domestic corporations and foreign corporations with domestic business establishments in the past year and specially withheld corporate local income tax must submit the 'Special Corporate Local Income Tax Collection Report' to the competent city, county, or district by the 2nd of next month, where the headquarters of the special collection obligor is located.

The special collection report is used as verification material for deducting previously paid taxes during the final corporate local income tax return and is utilized in adjusting special collection tax between local governments.

Refer to the Wetax notices (2019 fiscal year special collection report submission guide for corporations' interest and dividend income) and submit as an electronic file or visit the relevant district's tax office with computer media or written documents.

A district official said, "We ask that the special collection report be submitted by the deadline for smooth processing of April corporate local income tax final returns and for taxpayers' convenience."