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NTS to Offer Tax Support for Firms Affected by Coronavirus

Write: 2020-02-20 16:54:25Update: 2020-02-20 18:21:12

NTS to Offer Tax Support for Firms Affected by Coronavirus

Photo : KBS News

The National Tax Service will extend the deadline of corporate tax payments for companies affected by the coronavirus outbreak and also provide tax refunds at an earlier date.

NTS Commissioner Kim Hyun-jun on Thursday met with chiefs of auto part manufacturers based in the Asan and Dangjin area in South Chungcheong Province, and laid out tax support measures for the firms reporting decreased sales.

Representatives who attended the meeting also asked for support for corporate expenses spent on workplace safety and hygiene as part of efforts to prevent the spread of the virus.

Kim said he will deliver these opinions to the Finance Ministry so that medium and small-sized businesses can receive tax breaks regarding those costs.

The firms also asked for a reduction in consumption tax on vehicle purchases as well as investment in future industries such as electric and hydrogen cars.

After the meeting, Kim toured Hyundai Motor's Asan plant where the gathering was held and offered encouragement to officials.

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