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Busan Metropolitan City Imposes Total of KRW 47.2 Billion in Resident Tax, Payment Due by September 1

Aug 15, 2025 10  Views
◈ KRW 15.5 billion (1.3 million cases) in individual resident tax and KRW 31.7 billion (200,000 cases) in business establishment tax imposed

◈ Individual resident tax is paid by the head of household, while business establishment resident tax must be declared and paid by individual entrepreneurs and corporations

◈ Various payment methods are available, including the internet (Wetax), virtual payment account transfers, bank ATMs, smartphone app (Smart Wetax), and an ARS system (☎142211)
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Busan Metropolitan City (Mayor Park Heong-joon) announced that it has imposed KRW 47.2 billion for approximately 1.5 million cases of the regular Resident Tax for August 2025 (covering the individual and business establishment categories, including the Local Education Tax) and that payment must be made by September 1.


Of the taxes imposed this time, the individual resident tax accounts for approximately 1.3 million cases and KRW 15.5 billion (including KRW 3.1 billion in Local Education Tax), and the business establishment resident tax accounts for approximately 200,000 cases and KRW 31.7 billion (including KRW 3.9 billion in Local Education Tax).


The individual resident tax is imposed on the head of a household whose address is registered in Busan Metropolitan City as of July 1, the tax base date, and on foreigners who have resided in Busan for more than one year.
Recipients of livelihood benefits, minors, and unmarried heads of household under the age of 30 who are direct descendants of the head of the household and live in a separate household are exempt from taxation.


Corporations with business establishments in Busan and individual business owners whose VAT taxable base in the previous year was KRW 80 million or more must declare and pay the business establishment resident tax by September 1.
To minimize inconvenience for taxpayers after the conversion of the business establishment resident tax to a declaration-based system in 2021, the city sends out payment notices collectively and considers payment made within the deadline as a declaration and payment.


If a taxpayer does not receive the payment notice, or if the amount or total floor area of the business establishment indicated in the notice differs from the actual status, they must declare and pay directly via Wetax or at the tax division of the district or county office. Failure to declare or pay by the deadline may result in a penalty.


To facilitate easy payment within the due date, the city offers various payment methods.
Using the mobile app (Smart Wetax), Internet Giro (www.giro.or.kr), or the Wetax website (www.wetax.go.kr), taxpayers can conveniently check and pay from anywhere.
In addition, payment can be made via virtual payment accounts, the ARS system (☎142211), bank ATMs and bill payment machines, and KakaoPay. In particular, taxpayers using electronic billing and automatic account transfers can receive tax deduction benefits.


Shin Jong-bae, Director of Tax Administration, stated, “The resident tax imposed this time is an important financial resource that will be used to improve citizens’ quality of life and welfare, including the development of social infrastructure. As the payment deadline (August 31) falls on a Sunday, payment is accepted until September 1. We kindly ask all citizens to pay their resident tax within the deadline.”

This content has been translated by AI. Please refer to the attached original Korean version for accuracy if needed.