Could South Korea delay its virtual asset tax again? Blue House: Under review, with postponement favored
1️⃣ Current plan: Under the Income Tax Act, income from transferring or lending virtual assets would be subject to a combined rate of about 22% in other income tax and local tax, after an annual deduction of KRW 2.5 million. The tax was originally scheduled to take effect in January 2027.
2️⃣ Blue House response on October 25: The relevant proposal is “under review” and “no decision has been made.” Several Korean media outlets say discussions are leaning toward another delay, and the ruling party has already proposed an amendment to push the start date to 2029.
3️⃣ Background: The tax has been postponed several times since the law was amended in 2020. The U.S. is planning to fully join the OECD CARF information exchange only in 2029, and there are also fairness concerns that “domestic users would be taxed first.” Ultimately, a legislative amendment by the National Assembly is required for any change to take effect.
This could affect sentiment in South Korea’s active trading market for $BTC , $ETH , and other assets, but it is not a tax rate change that has been finalized. For informational purposes only; not investment advice. DYOR. Use official channels only, and don’t click unfamiliar claim links.
#韩国 #加密税 #Bitcoin #Ethereum #Regulation
1️⃣ Current plan: Under the Income Tax Act, income from transferring or lending virtual assets would be subject to a combined rate of about 22% in other income tax and local tax, after an annual deduction of KRW 2.5 million. The tax was originally scheduled to take effect in January 2027.
2️⃣ Blue House response on October 25: The relevant proposal is “under review” and “no decision has been made.” Several Korean media outlets say discussions are leaning toward another delay, and the ruling party has already proposed an amendment to push the start date to 2029.
3️⃣ Background: The tax has been postponed several times since the law was amended in 2020. The U.S. is planning to fully join the OECD CARF information exchange only in 2029, and there are also fairness concerns that “domestic users would be taxed first.” Ultimately, a legislative amendment by the National Assembly is required for any change to take effect.
This could affect sentiment in South Korea’s active trading market for $BTC , $ETH , and other assets, but it is not a tax rate change that has been finalized. For informational purposes only; not investment advice. DYOR. Use official channels only, and don’t click unfamiliar claim links.
#韩国 #加密税 #Bitcoin #Ethereum #Regulation