South Korea lawmakers mull pushing crypto tax implementation to 2029
The Seoul government is reportedly weighing another delay for a 2020 income tax policy on digital assets, citing concerns with receiving data from US officials.
Government officials in South Korea are reportedly weighing a delay of the country’s cryptocurrency tax policy, currently expected to be implemented in January 2027.
According to a Monday report from South Korean news outlet Newsis, the crypto income tax could be pushed to 2029 in part because it’s the earliest that officials will be able to share information on taxes related to digital asset exchanges with the US.
The policy, which would impose a 22% tax on crypto gains — 20% from income and 2% as part of a local tax — for investors earning more than 2.5 million Korean won ($1,883) annually has already seen several delays since it was first proposed in 2020.