Japan
Digital Asset
"Virtual Asset CARF Is Not a System Solely for Income Taxation... Japan's Loss-Deduction Approach Could Also Be Considered"
- Professor Jeong Seung-young (Changwon National University) said CARF should not wait for Korea's virtual asset income-tax system to be fully completed before being implemented.
- CARF is explained as a framework for exchanging information between countries for tax assessment and collection, usable for broader tax administration, not just income taxation.
- The remarks were made at the Korea Tax Law Association's autumn academic conference on October 14 at Samil PwC in Yongsan-gu, Seoul, which also touched on Japan's loss-deduction system as a model worth reviewing.