South Korea Weighs Fourth Delay of Crypto Gains Tax Until…
By Abdelaziz Fathi
AI summary of the source article
South Korea is considering a fourth postponement of its planned 22% cryptocurrency gains tax from January 2027 to 2029. The proposed delay aims to align with international information-sharing frameworks to better track overseas transactions.
Why it matters
A postponement could give exchanges additional time to improve transaction reporting, calculate acquisition costs and establish procedures for more complicated activities, including staking, lending and transfers between platforms.
Key facts
- South Korea is reviewing a proposal to delay its 22% crypto gains tax from January 1, 2027, to 2029.
- A bill introduced on October 16 proposes linking the tax start date to international data exchanges under the OECD's Crypto-Asset Reporting Framework.
- The tax applies a combined 20% national and 2% local rate on virtual asset gains exceeding 2.5 million won annually.
Source excerpt · FinanceFeeds
South Korea is considering a fourth postponement of its planned 22% tax on cryptocurrency gains, with a proposed 2029 start date tied to international information-sharing arrangements that would give tax authorities better access to overseas trading records. The levy is currently scheduled to take effect on January 1, 2027. However, the presidential office is reviewing another delay alongside lawm…