On Feb. 18, SK Tax said corporate tax payment is due Mar. 31, 2025.
SK Tax reminded firms with financial year ended Dec. 2024 to file taxes by Mar. 31.
Follows SK Tax Feb. 2024 reminded re corporate tax payment by Apr. 1, see #202496.
Reminder
1.15mn companies with financial year ended Dec. 2024 must file/pay corporate taxes, which include not only for-profit companies but also non-profit companies operating profit-making businesses and foreign companies with domestically-sourced income.
Filing corporate taxes can be conducted via Hometax from Mar. 1, 2025 by converting files; for electronic filing, KRW 20k will be deducted from the tax amount to be paid.
Where the tax amount to be paid exceeds KRW 10mn, it can be paid in instalments.
Corporations subject to confirmation of compliant filing or consolidated tax payment method may file and pay taxes by Apr. 30, 2025, but the former must submit a certificate of confirmation of compliant filing verified and prepared by a tax agent.
Where companies subject to external audit have not completed audits and their financial statements have not been finalized, they may apply for an extension of the filing deadline by 3 days before deadline, which will be extended by up to 1 month.
But an additional amount equivalent to interest for the extended period must be paid.
Corporations which are subject to special taxation for partnership firms must report details of calculation and allocation of income of partnership firms by Mar. 17, 2025.
