A proposed two-year postponement of South Korea’s virtual-asset income tax will be discussed Friday, Oct. 30, by the ruling Democratic Party and representatives of five exchanges, while the current start date remains January 2027. If approved, the proposal would defer collection to 2029.
The expected participants represent Upbit, Bithumb, Coinone, Korbit and Gopax. The party cites unfinished tax infrastructure and limited access to exchange trading records in support of the delay.
South Korea has deferred implementation three times. EconoTimes reported in its account of the party’s latest debate that members had not adopted a replacement date, leaving January 2027 as the current schedule.
The proposed framework allows an annual 2.5 million won deduction for income from virtual-asset transfers and rentals. National income tax and local tax together would apply at 22%.
