South Korea
Digital Asset
National Tax Service to finalize crypto-asset taxation notice by end of October
- Rep. Cho Seung-rae, Chair of the National Assembly Strategy and Finance Committee, said the NTS reported on October 22 that its crypto-asset taxation notice is not yet finalized but is expected to be completed by the end of October.
- The disclosure came during the committee's comprehensive audit (jonghap gamsa) held at the National Assembly in Yeouido-dong, Yeongdeungpo-gu, Seoul, following a request made during the earlier National Assembly audit (gukjeong gamsa) for an update on digital asset taxation preparations.
- The South Korean government plans to begin taxing digital asset income starting January 1, 2027, and the NTS is preparing related administrative guidance accordingly.