South Korea Delays Virtual Asset Income Tax to 2029, Expands Overseas Tax Infrastructure

Cointime update: South Korea’s Deputy Prime Minister and Finance Minister Lee Hyung-il said on November 5 that the government will postpone the levy of virtual asset income tax by two years to 2029 and expand infrastructure to effectively tax overseas transactions. Lee said that after 2029, if virtual asset transaction information is obtained from the United States, authorities will have sufficient data to tax investors using US exchanges. The government will form and operate a public-private joint task force on digital asset taxation and accelerate digital asset legislation.