On Apr. 2, 2025, SK Tax reminded public interest corporations with fiscal year-ends of Dec. 2024 to disclose their financial statements on Hometax by Apr. 30, 2025.
They should also submit reports on donated assets and obligation performance.
Starting 2025, the format has been changed to classify expenditure details by type, in the statement of use of sales proceeds from donated assets and operating income.
Hometax system has been expanded and reorganized to facilitate ease of reporting.
During this reporting period, an AI phone consultation service is available 24 hours a day so that public interest corporations can call to ask any questions they may have.
On Mar. 28, SK Tax reminded firms to disclose settlement documents.
SK Tax reminded public service firms to disclose the settlement documents on time.
Follows SK Tax Dec. 2022 reported re public service firms obligations, see #157558.
Reminder
Corporations with settlement of accounts in Dec. 2022 must submit settlement documents by May 2, 2023, except day-care centers as well as kindergartens.
Documents include financial statements, income statements and donation expenditure.
Opened comprehensive information portal that integrates all menus into one place.
Error notification section has been expanded to prevent disclosure errors.
Expand tax law classes for new public service corporations, run on a quarterly basis.
Effectiveness
Settlement document shall be disclosed by May 2, 2023.
Mar. 2024 Reporting for 2024
On Mar. 27, 2024, SK Tax reminded public interest corporations with settlement of accounts in Dec. 2023 to disclose their settlement documents through Hometax.
Submit report on contributed assets and report on fulfillment of obligations by Apr. 30.
Additional tax may be imposed for failure to disclose, or for errors in the disclosures.
An integrated reporting system was launched from Apr. 1, 2024, in order to enable disclosure of settlement documents and reporting of contributed assets at once.
From 2024, the reason for re-disclosure made after the deadline must be described; both original disclosure and re-disclosure including the reason will be published.
SK Tax will continue to improve the reporting system and expand tax law training.
Apr. 2025 Reporting for 2025
On Apr. 2, 2025, SK Tax reminded public interest corporations with fiscal year-ends of Dec. 2024 to disclose their financial statements on Hometax by Apr. 30, 2025.
They should also submit reports on donated assets and obligation performance.
Starting 2025, the format has been changed to classify expenditure details by type, in the statement of use of sales proceeds from donated assets and operating income.
Hometax system has been expanded and reorganized to facilitate ease of reporting.
During this reporting period, an AI phone consultation service is available 24 hours a day so that public interest corporations can call to ask any questions they may have.
