Loading...
The South Korean presidential office has decided to postpone the proposed cryptocurrency income tax, originally scheduled for January next year. An official from the presidential office stated on the 25th that discussions are leaning towards delaying the implementation of the cryptocurrency tax. The South Korean government initially decided to tax virtual asset income when it revised the income tax law in 2020, and this policy has been postponed three times. Under the revised income tax law, annual income from the transfer or lending of virtual assets is subject to a total tax rate of 22% after deducting a basic tax exemption of 2.5 million won.