🇰🇷 South Korea’s Democratic Party of Korea joins the opposition camp, calling for a postponement of the cryptocurrency tax originally scheduled to take effect on January 1, 2027.
Lawmaker Min Byung-duk argues that taxation should be imposed only after passing the Basic Act on Digital Assets. Finance Minister Lee Hyoung-il, meanwhile, supports implementing it on schedule, saying that 85% of investors’ holdings are insufficient—below 5 million won (about $3,670). With a tax-free threshold of 2.5 million won, most do not meet the cutoff.
Key provisions of the tax system: transfer/loan income is taxed as other income at a rate of 20%, and losses cannot be carried forward.
The exchange association DAXA also calls for a delay, with an investigation showing that 73.7% of South Korean investors oppose it.
#韩国 #加密货币 #Crypto tax
Lawmaker Min Byung-duk argues that taxation should be imposed only after passing the Basic Act on Digital Assets. Finance Minister Lee Hyoung-il, meanwhile, supports implementing it on schedule, saying that 85% of investors’ holdings are insufficient—below 5 million won (about $3,670). With a tax-free threshold of 2.5 million won, most do not meet the cutoff.
Key provisions of the tax system: transfer/loan income is taxed as other income at a rate of 20%, and losses cannot be carried forward.
The exchange association DAXA also calls for a delay, with an investigation showing that 73.7% of South Korean investors oppose it.
#韩国 #加密货币 #Crypto tax