South Korea to seek two-year delay in cryptocurrency gains tax to 2029
Briefing by News4U · First published
South Korea will seek to delay a planned tax on cryptocurrency gains by two years, from 2027 to 2029, Finance Minister Lee Hyoung-il said at a Seoul press conference on Thursday, citing the timeline for tax information exchanges with the United States and the need to prepare regulatory changes. Lee said implementation has already been postponed three times and that the government will work with the National Assembly on the proposal. Under the scheme, a 22 percent tax, including local income tax, would apply to annual cryptocurrency gains exceeding 2.5 million won (US$1,869). Officials also plan a public-private working group and aim to allow investors to carry forward losses for up to three years. [1]
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- (LEAD) S. Korea to seek 2-year delay in tax on cryptocurrency gains
Yonhap Business · · Full text