[세종=이데일리 최훈길 기자] VAT for 2.4 million individual business owners is reduced or exempted, and 6.66 million VAT payment for individual business owners is postponed for one month. This is because the government has decided to provide support to private businesses in consideration of the Corona 19 damage.
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The National Tax Service announced on the 6th that it will implement a reduction system for small private businesses this year following last year. According to the reduction and exemption system, the tax rate is reduced to the level of simple taxpayers (5~30%) for individuals whose supply price (sales in the second half of last year) is 40 million won or less during the taxation period, and is not subject to the exemption-exempt business such as real estate rental and trading business. The exemption criteria for simple taxpayers who do not pay VAT will also be expanded from less than 30 million won in annual sales to less than 48 million won.
The National Tax Service decided to postpone VAT payments by one month until the 25th of next month in the case of 6.65 million private businesses. However, 1,300,000 corporate businesses were required to pay by the 25th of this month as before. An official from the National Tax Service emphasized that “we will actively provide cleaning support for private businesses and small and medium-sized enterprises, etc., who are having difficulties in management due to Corona 19.”
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