The standard for loss compensation is to pay a minimum of 6 million won to a maximum of 10 million won per company in consideration of the size of sales and the rate of decline.
Whether or not sales decrease is determined based on the annual or semi-annual VAT declared sales in 2020 or 2021 compared to 2019 and 2021 compared to 2020.
If it is not possible to determine whether annual or semi-annual sales decline or the size of the sales decline, we compare semi-annual or monthly average sales using taxation infrastructure data.
Businesses that close can also receive compensation for losses. If a business is operating as of December 31 of last year, it is eligible for support even if it has closed after January 1 of this year.
- This app is not affiliated with the government. We only provide government-related information, and the source of the information is at the address below.
(Source: Small Business Loss Compensation.kr)
Whether or not sales decrease is determined based on the annual or semi-annual VAT declared sales in 2020 or 2021 compared to 2019 and 2021 compared to 2020.
If it is not possible to determine whether annual or semi-annual sales decline or the size of the sales decline, we compare semi-annual or monthly average sales using taxation infrastructure data.
Businesses that close can also receive compensation for losses. If a business is operating as of December 31 of last year, it is eligible for support even if it has closed after January 1 of this year.
- This app is not affiliated with the government. We only provide government-related information, and the source of the information is at the address below.
(Source: Small Business Loss Compensation.kr)
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