KOREAN TAXATION Local Tax_Special Excise Tax A. Taxpayer
The following taxpayer is obligated to pay consumption tax for specific property.
A person who carries and sells taxed properties such as Jewelry, like pearls (except for
A person who carries and sells taxed properties such as Jewelry, pearls, air
conditioner, coffee, fur, furniture, slot machines and carpets etc.
The custom duties taxpayer and properties carried out from a bonded area specified
Self-employed individual who operates horse-racing establishment, Turkish bath, or
Self-employed individual who operates a cabaret, night club, salon and so on.
B. Tax base
Seller - Sales price Manufacturer - Sales price of the manufacturer Import - Customs duty tax amount Amusement place - Admission fee
C. Tax return and payment
A taxpayer shall submit the tax return form on which the quantity, price, taxable base, tax amount before tax deduction, unpaid tax or exempted tax amount, deduction, refund, tax due amount of the properties carried out from the selling place or manufacturing place are recorded on a monthly basis, by the ending date of the following month to the regional tax office. The taxpayer is considered to have reported based on (a) when he/she imports and reports to the regional tax office of a bonded area. Customs law is applicable on properties other than imported goods. A self-employee who operates a taxed place and taxed amusement place shall file and pay the tax by the end of the following month. D. Non-taxable product Non-taxable
Goods that are manufactured for self and the family-use
A product applicable to the simple tax rate specified by Customs law
A product applied to more than 1% of liquor tax
Products collected at the manufacturing site specified in the Ginseng cultivation Act, the Livestock
Processing Act, Pharmaceutical Act, the Food hygiene Act.
Tax-free
Export and military supplies: Consumption tax for specific property is exempted for properties exported or supplied to foreign troops stationed in Korea.
Immunity from taxation for foreign diplomats
Conditional tax-free: Consumption tax for specific property is levied when it fails the requisites.
Unconditional tax-free: goods donated to religious and charity organizations Tax-free pending food is supplied for amusement
E. Tax credit and refund Tax credit
Deduction is allowed from the tax amount to be paid, if consumption tax for specific property is paid or the raw material falls under the following:
When the taxed goods are carried out from the manufacturing place or bounded area and directly input to manufacture and process to produce other taxed goods
When goods are purchased or carried out from other seller and manufacturer, or the product is carried out from the bounded area for sale.
Where the products or raw material on which the consumption tax for specific property are imposed fall under any of the following categories, a refund and deduction is allowed.
In the case of products supplied or exported to US troops stationed within Korea
In the case of double consumption tax for specific property on the products made of taxed raw materials.
Where taxed oil products are supplied to a medical treatment facility, fertilizer or to a vessel, aircraft, pelagic fishing vessel or foreign embassy and other similar organization.
Where taxed products are used for the purpose of nuclear fuel or nuclear power generation
Other refund
Where conditional tax-free products are taxed by reason of the requisites, deduction and refund are not allowed for the consumption tax for specific property imposed on the raw material used. Deduction and refund are not allowed for penalty tax imposed on products.
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Pursuant to due call and notice thereof, the regularly scheduled meeting of the Spring Lake Park City Council was held on September 16, 2013 at the Spring Lake Park Community Center, 1301 81st Avenue N. E., at 7:00 P.M. 1. Call to Order Mayor Hansen called the meeting to order at 7:00 P.M. 2. Roll Call Members Present: Councilmembers Mason, Nash, Nelson, Raymond and Mayor Hansen Building Offici
KOREAN TAXATION 
E. Tax credit and refund