South Korean Presidential Office Leans Toward Another Two-Year Delay for Crypto Capital Gains Tax

Deep News08:10

According to media reports citing an anonymous presidential office official, the South Korean presidential office is inclined to postpone the implementation of the capital gains tax on cryptocurrency earnings by approximately two more years.

This tax is currently scheduled to take effect in January 2027 and has already been delayed three times; if postponed again, it would be the fourth delay.

Part of the reason the presidential office is considering a delay is that the United States will not join the OECD's crypto asset reporting framework until 2029, which could make it difficult for South Korea to obtain overseas transaction data.

The presidential office official stated that no final decision has been made yet on postponing the tax, and the final conclusion is expected to be determined during discussions by the National Assembly's tax subcommittee in November.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment