South Korea's Deputy Prime Minister: Virtual Asset Income Tax Postponed to 2029

TechFlow, November 5: According to Yonhap News Agency, South Korea's Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il said on November 5 that the government has decided to postpone the collection of the virtual asset income tax by two years to 2029, adding that it will "further expand the infrastructure that enables effective taxation of overseas transactions." At a briefing held at the government complex in Seoul, Lee Hyung-il said that if virtual asset transaction information can be obtained from the United States after 2029, the government will have sufficient information to tax investors using U.S. exchanges. He also said that a public-private joint task force on digital asset taxation will be established and operated to advance the rationalization of the taxation system and the expansion of taxation infrastructure, and to accelerate the enactment of a digital asset law.

Source: TechFlow