The Amendment to the Tax Collection Act (the “Amendment”) was announced by the President on January 14, 2015. Major amendments include: (1) For taxpayers having difficulty in paying taxes within the time period prescribed under the law due to force majeure events or those who are economically vulnerable, they may apply to the tax authority to extend the time of payment or to pay in installments; and (2) the tax authority may disclose information regarding the taxpayers’ property, income, business and tax payments to academic institutions and representative bodies for purposes of statistics-gathering, education, research and oversight, provided that the name of the taxpayers shall not be disclosed and that the requirements under the Disclosure of Government Information Law are met.