Article 720Collection of Shortfall Amounts and Delinquency Charges Relating to Water Utilization and Land Benefit Tax, etc.

①Where a reassessment or determination under Article 719, paragraphs (1) to (3) has been made and there is a shortfall amount (meaning the shortfall in the remittance resulting from a reassessment or the amount of remittance resulting from a determination; the same applies hereinafter with regard to water utilization and land benefit tax, etc.), a tax collection official must collect it, taking as the due date for payment the day on which one month has elapsed from the day on which notice was given under paragraph (4) of that Article.

②In the case of the preceding paragraph, an amount of delinquency charge equivalent to the amount calculated by multiplying the shortfall amount by a rate of 14.6 percent per annum (7.3 percent per annum for the period up to the due date for payment under the preceding paragraph or the period up to the day on which one month has elapsed from the day following that due date for payment), according to the number of days in the period from the day following the due date for payment under Article 718, paragraph (2) (where the due date for payment has been extended, the extended due date for payment; the same applies hereinafter with regard to water utilization and land benefit tax, etc.) to the day of remittance, must be added and collected.

③Where the head of the local government finds that there are unavoidable grounds for a special collection agent having been subject to a reassessment or determination under Article 719, paragraph (1) or (2), the head may reduce or exempt the amount of delinquency charge under the preceding paragraph.