Hello,

I am Hwang Jungmin, a tax accountant at Serim Tax Corporation.

I understand your concerns about the comprehensive real estate tax. Kindly find answers to your question below:

1. The comprehensive real estate tax can be divided and paid over a period of 6 months as follows:

   (1) When the payable tax amount is over KRW 2.5 million but not exceeding KRW 5 million, the amount after deducting KRW 2.5 million from the payable amount.

   (2) When the payable tax amount exceeds KRW 5 million, an amount equal to 50% or less of the payable tax amount.

2. However, if the recipient of the payment notice wishes to make installment payments, they must submit an application to the head of the relevant tax office by the deadline for paying the comprehensive real estate tax.

[Related Regulations - Article 20 of the Comprehensive Real Estate Tax Act and Article 16 of the Enforcement Decree of the Comprehensive Real Estate Tax Act]

In addition to installment payments, a system for deferring the payment itself was put in practice on September 15, 2022. If certain conditions are met, the payment itself can be deferred, and it appears that you may meet these conditions.

For detailed consultation, please visit our office or contact us by phone. 

Wish you a good day!