Presidential Office Mulls Further Postponement of Virtual Asset Tax

The presidential office announced it is considering yet another postponement of the virtual-asset tax that was set to begin in January, but officials emphasized that no definitive decision has been reached. The tax, which would impose a 22 percent charge on annual gains from transferring or lending digital assets exceeding two-point-five million won, was added to the Income Tax Act in 2020 and has already been delayed three times.

While the government continues administrative preparations, internal disagreement persists: a ruling-party lawmaker has suggested waiting until 2029, citing the United States' upcoming participation in the Crypto-Asset Reporting Framework, and the opposition People Power Party also backs a delay, pointing to inadequate tax infrastructure. Consultations between the government and the ruling party are slated to follow the conclusion of a parliamentary audit later this month, after which a final verdict on any further postponement will be made.