South Korea May Suspend Crypto Tax Again: 2029 Now the Leading Target Date

Korea first set the 22% income levy in 2020 and has suspended it three times since, with January 2027 as the current scheduled start date. South Korea is likely to postpone its crypto income tax for a fourth time, as Newsis reported on October 26, after an official from the presidential office, also known as the Blue House, confirmed that a delay is under discussion. January 2029, when the United States is due to join the OECD’s crypto information-sharing network, is the most probable new start date. Blue House Points to Missing US Data “Taxation of virtual assets is being discussed with a view to delaying implementation,” a Blue House official stated on October 25. Lawmakers and the government are expected to amend the Income Tax Act during the tax law reform debate that begins in November, with consultations with relevant organizations starting as early as October 26. A government official said the final call will probably come between late November and early December. At the center of the case sits the United States. Almost half of the virtual asset market is there, the official pointed out, and “the biggest obstacle is that the United States does not provide us with taxation in...