Most missed tax payments aren't refusals — they're oversights. The notice never arrived, or it did and vanished into a drawer. And a single day late adds penalties.
Here's Korea's tax year on one page. Nearly every date repeats annually, so bookmark this and check it monthly.
Deadlines falling on weekends or holidays usually move to the next business day, and rules change. Confirm on Hometax (national taxes) or Wetax (local taxes) before paying.
The year at a glance
National taxes go through Hometax; local taxes through Wetax (Etax in Seoul).
| Month | Taxes · who |
| January | VAT final return (25th) · automobile tax prepayment (16–31, best discount) · settlement documents |
| February | Year-end settlement appears in payroll |
| March | Payment statements (10th) · corporate tax (31st) · prepayment window 2 |
| April | VAT interim return or assessed payment (25th) |
| May | Comprehensive income tax (1–31) · tax credit applications |
| June | ★ June 1 assessment date · automobile tax (16–30) |
| July | Property tax, part 1 (16–31) · VAT final return (25th) |
| August | Resident tax (16–31) · first-half stock gains |
| September | Property tax, part 2 (16–30) · exclusion filings · final prepayment window |
| October | VAT interim return or assessed payment (25th) |
| November | Interim income tax (30th) · comprehensive tax notices |
| December | Comprehensive real estate tax (1–15) · automobile tax (16–31) · planning deadline |
★ June 1 is the year's most consequential date. Whoever owns property that day pays the entire year's property and comprehensive real estate tax. For a spring transaction, which side of June 1 your closing lands on can be worth millions of won (see property tax).
Event-based deadlines
| Bought property or a car (acquisition tax) | 60 days from acquisition |
| Sold property (capital gains) | 2 months from month-end of sale |
| Received a gift (gift tax) | 3 months from month-end |
| Inheritance (inheritance tax) | 6 months from month-end |
| Renouncing an inheritance | 3 months from learning of the death |
| Missed a deduction (amended return) | 5 years from the filing deadline |
The three-month renunciation window is the shortest and irreversible — critical when debts exceed assets.
By situation
💼 Employees
| December | Final chance for deductible contributions (preparation) |
| Jan–Feb | Submit documents; result lands in February payroll |
| May | File if you have side income (thresholds) |
| Anytime | Reclaim missed deductions within five years |
🧑💻 Freelancers and businesses
| Jan 25 · Jul 25 | VAT final returns (twice yearly for individuals) |
| Apr 25 · Oct 25 | Interim returns or assessed payments |
| May | Income tax return — check for a 3.3% refund (how) |
| Nov 30 | Interim prepayment (about half of May's tax) |
🏠 Property owners
| June 1 | Assessment date — that day's owner pays the year |
| July · September | Property tax, split in halves for housing |
| Dec 1–15 | Comprehensive real estate tax |
| May | Rental income if you collect rent |
Missing a deadline
| Local taxes | 3% penalty the next day, with monthly additions on larger bills |
| Failure to file | 20% penalty (higher for evasion) |
| Under-reporting | 10% penalty |
| Late payment | Daily late-payment charges |
Not receiving the notice doesn't excuse the payment. Moving without updating your address, or lost mail, still incurs penalties. Checking Wetax and Hometax directly is the safe habit.
Three ways not to miss one
- Enable electronic notices and auto-payment — some local governments even offer small discounts.
- Put the relevant dates in your calendar as annual repeats — pick only the ones that apply to you.
- Local taxes carry no card fee, so interest-free installments can spread the cost.
FAQ
What if a deadline falls on a weekend?
It generally moves to the next business day — but paying early is safer.
I lost the notice.
Look it up and pay on Wetax or Hometax; reissues are available.
The amount is too large to pay at once.
Installments are available above certain thresholds for property tax, comprehensive real estate tax and capital gains, and inheritance tax can be spread over years.
Are the dates identical every year?
Mostly, but rule changes and holidays shift them. Check the official notices in the relevant month.
Taxes cost people money less through complexity than through forgetting. Add the three or four that apply to you and the year takes care of itself.
This is general information, not tax advice. Schedules and amounts change with reform and personal circumstances — confirm with Hometax, Wetax or a tax professional before filing or paying.
