Yeongdeungpo-gu Receives Special Collection Details for Corporate Local Income Tax

[Suwon Ilbo=Correspondent Seo Dong-young] Yeongdeungpo-gu, Suwon City announced that special withholding agents who collected withholding taxes on interest and dividend income from domestic corporations and foreign corporations in 2020 must submit special collection details for corporate local income tax by March 2.

The special collection details statement is used to verify the prepaid tax amount of corporate local income tax for the 2020 fiscal year confirmed and reported/paid in 2021, as well as for settlement operations of special collection taxes for corporate local income tax among local governments.

The submission target is special withholding agents for corporate local income tax. Those who withheld and reported/paid 10% of the corporate tax withholding amount when paying interest and dividend income to domestic corporations and foreign corporations with domestic business establishments in 2020.

Submissions can be made to We-Tax (www.wetax.go.kr) or the relevant local government via electronic media or written documents. For more details, check the We-Tax homepage notices (Notice on Submission of Special Collection Details for Interest and Dividend Income of Corporations Attributable to 2020 (2021.1.12.)).

A district official said, "We request that special collection details be submitted within the deadline for smooth processing of corporate local income tax final return procedures in April and for accurate and swift settlement operations," and emphasized the importance of timely submission.