🔔 Public Interest Corporations: Don’t Forget Your Year-End Settlement Disclosures by April 30! 🗓️

Hey everyone! 👋 Just a friendly reminder for all the public interest corporations out there with a December year-end: your settlement disclosures are due by April 30th! The National Tax Service (NTS) is making it easier than ever to comply, so let’s dive into the details. ⬇️

What’s New This Year? 🆕

The NTS has been working hard to simplify the reporting process. This year, there are a few key improvements you should be aware of:

• Unified Reporting Screen: Say goodbye to juggling multiple screens! All five reporting obligations can now be completed from a single, integrated screen. 💻
• Detailed Expenditure Breakdown: When reporting on the use of proceeds from the sale of contributed property and operating income, you’ll need to categorize expenditures by type. 📊
• Pre-filled Forms: To save you time and effort, the system will automatically pre-fill items that haven’t changed from the previous year. ✅
• Error Checks: The system includes enhanced error checks to help you avoid unintentional omissions or mistakes. ⚠️
• Customized Guidance: The reporting system will only activate screens relevant to your specific type of public interest corporation, streamlining the process. 🎯

What Needs to Be Filed? 📝

Here’s a quick rundown of what you need to submit:

• Settlement Documents: Publicly disclose your settlement documents via HomeTax.
• Report on Contributed Property: Submit a report on contributed property.
• Report on Fulfillment of Obligations: Provide a report on the fulfillment of obligations.

These reports can be submitted to the relevant tax office either in writing or via HomeTax.

Need Help? 📞

The NTS is offering a 24-hour AI phone consultation service to answer your questions. Just call the NTS Counseling Center at 126 and press 6 for public interest corporation咨询 (consultation), or call your local tax office. Don’t hesitate to reach out if you need assistance!

Important Reminder! 🚨

The NTS will be closely monitoring filings and will be scrutinizing those that appear incomplete or inaccurate. So, make sure you take your time and file diligently! 👍

[Korean Vocabulary Explanation]

• National Tax Service (국세청 – Guksecheong): The South Korean government agency responsible for tax collection and enforcement. Think of it like the IRS in the United States.
• HomeTax (홈택스): The online portal provided by the National Tax Service for electronic tax filing and related services.

That’s all for now! Make sure to get those filings in by April 30th. Good luck! 🍀