Ulsan City, vehicle acquisition tax reduction for 2-child families starting in 2025
The Ulsan City Vehicle Registration Office has announced that, with the amendment of the "Local Tax Special Provisions Restriction Act," the vehicle acquisition tax reduction target for households with multiple children will be expanded from 3 children to 2 children starting in 2025. This measure aims to alleviate the financial burden on multi-child families and is expected to have a positive impact on many households.
Tax reduction benefits and applicable targets
Target households are those raising 2 children under the age of 18. Such households can receive a maximum tax reduction of 50% on the acquisition tax, while families with three or more children will continue to receive tax exemption benefits.
The applicable vehicles are categorized as passenger cars with 6 seats or fewer and other vehicles. For passenger cars with 6 seats or fewer, if the acquisition tax is below 1.4 million won, a 50% reduction is applied; if it exceeds 1.4 million won, 700,000 won is deducted. Other vehicles will have 50% of the acquisition tax reduced.
However, the reduced benefit can only be applied for one vehicle registered by the multi-child parent. Additionally, if the ownership of the benefited vehicle is transferred within one year from the registration date, the reduced acquisition tax will be reclaimed, so caution is required.
Application method and procedure
Citizens wishing to benefit from the vehicle acquisition tax reduction must submit a local tax reduction application form and a family relationship certificate when reporting the vehicle acquisition tax.
If you are eligible for the reduction but did not receive the benefit, you can apply for a post-application reduction.
Additional changes
Recent legal amendments have brought several changes to the automobile acquisition tax reduction policy.
The existing reduction benefit of up to 1.4 million won for electric vehicles will be maintained, while the acquisition tax reduction for hybrid vehicles will be terminated. These measures seem aimed at promoting electric vehicle adoption and encouraging environmentally friendly vehicle choices.
A representative from the Ulsan City Vehicle Registration Office stated, "We plan to actively promote the acquisition tax reduction system so that taxpayers can effectively utilize it." Additionally, "We hope to alleviate the economic burden on multi-child households and contribute to solving the low birthrate issue," he added.
For additional information, detailed guidance can be received by contacting the Ulsan Metropolitan City Vehicle Registration Office. (Phone: 052-229-6169, 6102, 6104~6107, 6098)
#UlsanVehicleAcquisitionTax, #MultiChildAcquisitionTaxReduction, #2ChildTaxReduction, #UlsanTaxBenefits, #AutomobileAcquisitionTax, #UlsanFamilyPolicy, #MultiChildFamilyBenefits, #UlsanLowBirthratePolicy, #ElectricVehicleTaxReduction, #HybridAcquisitionTax, #UlsanEconomicSupport, #TaxReduction, #FamilyTaxBenefits, #UlsanCityAdministration, #UlsanVehicleRegistration, #UlsanTaxInformation, #TaxBenefitGuidance, #MultiChildFamilySupport, #UlsanCityPolicy, #AutomobileTaxReduction, #UlsanHousingWelfare, #OvercomingLowBirthrate, #ParentalSupportPolicy, #UlsanLivingInformation, #VehicleRegistrationPolicy, #UlsanTransportationPolicy, #MultiChildTaxReduction, #UlsanElectricVehicle, #UlsanHybrid
