Scan with your phone to get the appSouth Korea lawmakers consider delaying crypto tax to 2029 due to US data concerns.
South Korea's government is weighing another postponement of its cryptocurrency income tax, originally slated to start on Jan. 1, 2027.
Newsis reports the 22% tax (20% income tax plus 2% local tax) could be pushed to 2029, as that is the earliest the country can exchange tax data with the United States.
The US will join the OECD Crypto‑Asset Reporting Framework in 2029, while South Korea plans to implement the rules from 2027; the US accounts for nearly half of Korea's virtual‑asset market, prompting officials to consider the delay.
Summary rewritten by AI from the original article by Cointelegraph.
Also reported by
- South Korea may delay crypto income tax again, potentially pushing it to 2029. crypto.news · 1 d ago
- South Korean officials are leaning toward delaying crypto tax until 2029, with a final decision expected in late November or early December. Unchained · 2 d ago
- South Korea weighs a fourth delay on crypto gains tax to 2029, citing concerns over user tax burden and US data sharing. CoinDesk · 2 d ago
- South Korea weighs a fourth delay of its 22% crypto tax, pushing the start to 2029. Bitcoin Magazine · 2 d ago
- South Korea weighs a fourth delay of crypto gains tax, with a potential start in 2029. The Block · 2 d ago
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