[충청투데이 전민영 기자] The government is extending the VAT payment deadline by one month for individual businesses suffering from Corona 19.
According to the National Tax Service on the 6th, in order to prevent the spread of Corona 19 and support business operators having difficulties in management, the deadline for filing VAT for “individual business owners” was extended by one month.
Accordingly, corporate business owners must report and pay VAT on business performance by the 25th of the coming month, and the 25th of next month.
Individual business owners can report and make payments without visiting the tax office by using Hometax, ARS, or mobile simple return until the extended deadline.
We will also provide cleaning support to overcome Corona 19.
The main policy is to △enforce the reduction and exemption system for small-scale individuals, △ increase the standard amount for tax exemption for simple individual taxpayers △ early payment of refunds to small businesses and deferment of tax payment.
First of all, a VAT reduction system for small private businesses was newly established last year.
Taxation period (6 months) Individual general taxables whose supply price is 40 million won or less and do not qualify for real estate leases, sales, and entertainment venues are reduced to the level of simple taxpayers (5-30%).
The standard for simplified taxpayers who are exempt from VAT is also temporarily raised.
Simplified taxpayers with annual sales of 30 million won or more and less than 48 million won may be exempted from the obligation to pay VAT last year.
Early payment of refund and deferment of tax payment are also implemented.
This is to support the liquidity of corporate funds.
It is planned to pay by the 29th if a person eligible for cleaning support, such as SMEs and model taxpayers, applies for an early refund.
Businesses suffering from management difficulties due to disasters, restructuring, and rapid sales declines will extend the payment deadline upon request.
Other details can be found on the National Tax Service website and YouTube.
Reporter Jeon Min-young [email protected]
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