South Korea Moves to Delay Crypto Income Tax Again, With 2029 Implementation Under Discussion
The South Korean government is leaning toward postponing the planned taxation of cryptocurrency income, which was scheduled to take effect on January 1 next year. The latest move would mark a fourth delay since the tax system was first introduced, reigniting debate over the effectiveness of the country's crypto taxation framework and the fairness of applying taxes to domestic investors.A…
The South Korean government is considering delaying the implementation of a cryptocurrency income tax, which was initially set to take effect on January 1, 2027. This would mark the fourth postponement since the tax system was introduced. The ongoing debate centers around the effectiveness of the country's crypto taxation framework and whether applying taxes to domestic investors is fair.
The government plans to hold consultations with relevant parties to determine the length of the delay and set a revised implementation schedule. Both ruling and opposition parties support delaying the tax, and amendments to the Income Tax Act are expected during the National Assembly session. Some are even proposing to push the implementation date back to 2029 to align with the anticipated expansion of international cooperation on crypto-related tax information exchange.
Written by urgent.news from Korea IT Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
