🇰🇷 South Korea postpones crypto taxation again; policy originally set to take effect next January is delayed
South Korea’s presidential office has decided to postpone the cryptocurrency income tax policy, originally scheduled to take effect on January 1, 2027 (UTC+8). The policy stems from a 2020 amendment to the Income Tax Act and has already been postponed three times.
Under the amended rules, annual gains from transferring or lending virtual assets are subject to a combined tax rate of 22% (including other income tax and local income tax) after a basic tax exemption of 2.5 million won is deducted.
Personal view: The policy has been postponed several times, and its implementation timeline remains uncertain. For South Korean users who hold or frequently trade crypto, the short-term tax burden is temporarily eased, but they should continue to watch for further details.
How to participate: This is a policy update, so no action on Binance is needed for now. Keep an eye out for further official details.
#韩国推迟加密货币所得税 #CryptoTax｜Not investment advice. DYOR
South Korea’s presidential office has decided to postpone the cryptocurrency income tax policy, originally scheduled to take effect on January 1, 2027 (UTC+8). The policy stems from a 2020 amendment to the Income Tax Act and has already been postponed three times.
Under the amended rules, annual gains from transferring or lending virtual assets are subject to a combined tax rate of 22% (including other income tax and local income tax) after a basic tax exemption of 2.5 million won is deducted.
Personal view: The policy has been postponed several times, and its implementation timeline remains uncertain. For South Korean users who hold or frequently trade crypto, the short-term tax burden is temporarily eased, but they should continue to watch for further details.
How to participate: This is a policy update, so no action on Binance is needed for now. Keep an eye out for further official details.
#韩国推迟加密货币所得税 #CryptoTax｜Not investment advice. DYOR