South Korea
ABMedia
South Korea's Presidential Office Leans Toward a Fourth Delay of Crypto Tax, Ruling Party Proposes 2029 Start
- Crypto tax, introduced via a 2020 Income Tax Act amendment and originally due to start in 2022, would be delayed for a fourth time, now potentially to January 2029.
- The delay is driven largely by the US joining the OECD's CARF information-exchange framework only in 2029, which would otherwise leave Korean authorities unable to track trades on major US exchanges.
- Finance Minister Lee Hyoung-il had told the National Assembly in September that the tax would proceed as scheduled in January 2027, but the Presidential Office is now shifting toward delay, with a final decision expected after this month's National Assembly audit; current rules would tax crypto transfer/lending income above a 2.5 million won deduction at a combined 22% rate.