Article 121-19 (Collection of Reduced Tax, etc.)

The head of a district tax office shall, in cases falling under any of the following subparagraphs, collect the corporate tax or income tax reduced pursuant to Article 121-17, as prescribed by Presidential Decree. <Amended by Act No. 11614, Jan. 1, 2013, Act No. 12842, Dec. 23, 2014, Act No. 13620, Dec. 15, 2015, Act No. 16197, Dec. 24, 2018, Act No. 17879, Dec. 29, 2020, Act No. 19121, Dec. 31, 2022, Act No. 19960, Dec. 31, 2023> 1. Where the designation of a corporate city development zone is rescinded pursuant to Article 7 of the 「Special Act on Corporate City Development」 2. Where the designation of a regional development project zone is rescinded pursuant to Article 18 of the 「Act on Regional Development and Support」 or the designation of a regional revitalization zone is rescinded pursuant to Article 69 of the same Act. Provided, That this shall not apply where the designation of a regional development project zone or a regional revitalization zone is rescinded due to the achievement of the designation purpose, such as rescission of designation under Article 18 (2) 3 of the same Act. 3. Where investment corresponding to the tax reduction standards under Article 121-17 (1) is not made within two years from the end of the taxable year in which income is first generated from the business for which tax reduction is granted (in cases where income is not generated from the business within three years from the business commencement date, the taxable year in which the date three years from the business commencement date falls). 4. Where a company established in a corporate city development zone goes out of business or a newly established business site is closed. 5. Where a company established in a regional development project zone designated pursuant to Article 11 of the 「Act on Regional Development and Support」 (limited to regional development projects falling under Article 7 (1) 1 of the same Act) or a regional revitalization zone designated pursuant to Article 67 of the same Act goes out of business or a newly established business site is closed. 6. Where a company established in a maritime expo special zone designated and publicly announced pursuant to Article 15 (1) of the 「Special Act on the Commemoration and Post-Use of the Yeosu World Expo」 goes out of business or a newly established business site is closed. 7. Where the approval for the implementation of a project is canceled pursuant to Article 11 (6) of the 「Special Act on Support for Areas Surrounding US Forces Stationed in Korea, etc.」 8. Where a company established in the project zone based on the comprehensive plan under Article 8 and the business plan under Article 9 of the 「Special Act on Support for Areas Surrounding US Forces Stationed in Korea, etc.」 goes out of business or a newly established business site is closed. 9. Where the designation of a Saemangeum investment promotion district is rescinded pursuant to Article 11-6 of the 「Special Act on Promotion and Support of the Saemangeum Project」 10. Where a company established in a Saemangeum investment promotion district designated and publicly announced pursuant to Article 11-5 of the 「Special Act on Promotion and Support of the Saemangeum Project」 goes out of business or a newly established business site is closed. 11. Where the designation of a peace and economy special zone is rescinded pursuant to Article 14 (1) of the 「Act on the Designation and Operation of Peace and Economy Special Zones」 or a unit development project site is excluded from the peace and economy special zone. 12. Where a company established in a peace and economy special zone designated and publicly announced pursuant to Article 8 of the 「Act on the Designation and Operation of Peace and Economy Special Zones」 goes out of business or a newly established business site is closed.

Deleted <Dec. 15, 2015>