On Nov. 12, SK Tax said estimated interim payment is due Dec. 2.
SK Tax issued guidelines on declaration of global income tax estimates, related FAQ.
Follows SK Tax Nov. 2023 said interim tax payment is due Nov. 30, see #190368.
Overview of Guidelines
Where the interim payment estimated based on business performance in H1 2024 is less than 30% of global income tax for 2023, taxpayers may file an estimate report by Dec. 2, 2024 and pay the estimated interim payment instead of the notified amount.
However, where the estimated interim payment amount is less than KRW 500k, only an estimated report is filed and no payment is required; taxpayers may submit an electronic report via Hometax/Sontax or a written report to the tax office.
Where taxpayers required to keep double-entry books, do not have FY2023 global income tax have business income in H1 2024, they must file an estimate report.
Where the estimated interim payment amount exceeds KRW 10mn, taxpayers may pay a part of the tax amount in instalments from Dec. 3, 2024 until Feb. 3, 2025.
Effectiveness
The deadline for tax reporting and payment is Dec. 2, 2024.
