South Korea weighs delaying crypto tax to 2029 over US data sharing
Briefing by News4U · First published
Officials are considering pushing the 22% crypto gains tax back to 2029 because the US will not join the OECD reporting framework until then.
Cointelegraph reports that South Korean officials are weighing a delay of the cryptocurrency income tax, currently set for January 2027, to 2029 because the United States will not begin sharing data under the OECD Crypto-Asset Reporting Framework until 2029. [1]
The proposed tax would levy 22% on gains for investors earning more than 2.5 million Korean won ($1,883) annually and has already been postponed several times since 2020. [1]
Sources
- South Korea lawmakers mull pushing crypto tax implementation to 2029
Cointelegraph · · Full text