South korea: South Korea's tax agency announced on Monday that it will offer tax relief to taxpayers impacted by recent heavy rains in parts of South Gyeongsang Province. This relief includes extensions of payment deadlines and the postponement of tax audits.

According to Yonhap News Agency, the National Tax Service (NTS) decided on this course of action after the government designated the southeastern cities of Geoje and Tongyeong as special disaster zones, following the severe downpours. These areas are now eligible for government support.

The NTS stated, "We plan to extend the payment deadlines for corporate tax, value-added tax, and comprehensive income tax by up to two years upon request from taxpayers affected by the torrential rains." Additionally, the agency will automatically extend the deadline for interim corporate tax payments, originally due by the end of August, by two months to November 2, without requiring affected companies in the region to apply.

Furthermore, tax audits will be postponed for taxpayers in the fisheries, tourism, and shipbuilding industries. The NTS emphasized its commitment to supporting taxpayers struggling due to the rains, including those outside the designated special disaster zones, as far as the law permits.