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Busan Metropolitan City Announces Filing and Payment of Corporate Local Income Tax for 2026

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will accept filings and payments of corporate local income tax for corporations with a December 2025 fiscal year-end until April 30.

Corporate local income tax is calculated separately from corporate tax by applying the tax rates stipulated under the Local Tax Act to the corporate tax base.

Corporations must allocate tax amounts by each place of business and file and pay by April 30. Corporations subject to consolidated tax filing may file and pay by May 31.

As part of its tax administration support measures, the City will automatically extend the payment deadline by three months for export-oriented small and medium-sized enterprises and mid-sized enterprises, as well as those operating in petrochemical, steel, and construction industries.

Companies that have received an automatic extension for national corporate tax payment deadlines will automatically receive the same extension for corporate local income tax without needing to apply separately to district or county offices, and may complete payment by the end of July.

Additionally, corporations that are not eligible for automatic extension but have suffered significant business losses may apply for a payment deadline extension by April 24 to the tax department of the district or county where their business is located, in accordance with the Framework Act on Local Taxes. The payment deadline may be extended by up to six months, with extensions allowed up to twice for a maximum total of one year.

Payment methods include electronic payment via Wetax and Mobile Smart Wetax, KakaoPay, cash machines (CD/ATM) at financial institutions and convenience stores nationwide, unmanned collection machines at district and county offices, and the automated response system (☎142211), allowing taxpayers to choose the most convenient option.

Corporations with business locations in multiple local governments may file and pay taxes for each jurisdiction through Wetax (www.wetax.go.kr).

Kim Kyung-duk, Director General for Finance, stated, “To enhance corporate vitality and ease the burden on small-scale corporations, installment payment is available when the payable tax exceeds KRW 1 million. We encourage the use of electronic filing through Wetax, which is more convenient and faster than in-person filing.”