South Korea to Finalize Crypto Tax Draft by October 30 as…
By Karthik Subramanian
AI summary of the source article
South Korea's National Tax Service plans to finalize its draft administrative notice on cryptocurrency taxation by October 30, 2026. The proposed framework levies a combined 22% tax on qualifying crypto income exceeding 2.5 million won starting January 1, 2027.
Why it matters
Proceeding in January would "end years of uncertainty surrounding cryptocurrency income taxation and bring South Korea closer to jurisdictions that already tax digital asset gains."
Key facts
- Under existing legislation, South Korea plans to impose a combined 22% tax on qualifying annual cryptocurrency income exceeding 2.5 million won.
- The National Tax Service plans to finalize its draft administrative notice by October 30, 2026, requesting a preliminary regulatory review on November 6.
- Lawmakers have introduced proposals to delay implementation until 2029, which would represent a fourth postponement of the 2020 framework.
Source excerpt · FinanceFeeds
South Korea's National Tax Service (NTS) plans to finalize its draft administrative notice on cryptocurrency taxation by October 30, 2026, as the government weighs whether to proceed with the long-delayed tax regime scheduled to begin on January 1, 2027. According to local reports published October 22, the tax authority intends to request a preliminary regulatory review on November 6, followed by…