South Korea’s Deputy Prime Minister and Minister of Economy and Finance, Lee Hyoung-il, said the government will broadly gather views on the planned virtual asset taxation policy set for 2027, including opinions raised in the National Assembly as well as input from experts, industry participants, and other stakeholders. The remarks came as lawmaker Kim Sang-hoon questioned whether the country is ready to enforce the tax only months before implementation, pointing to gaps in the infrastructure needed to track and verify transaction records from overseas exchanges, decentralized exchanges, and DeFi platforms. On the expected tax revenue from virtual asset taxation, Lee said there are still parts that are difficult to measure accurately at this stage. He said tax estimates can only be refined after taxpayer filing data becomes available, which would follow the launch of the relevant reporting system next year. Lee added that the policy will be assessed carefully. The report was cited by Odaily, referencing Chosun.
South Korea’s Deputy Prime Minister and Minister of Economy and Finance, Lee Hyoung-il, said the government will carefully assess the planned virtual asset taxation policy scheduled for 2027 while broadly collecting views from the National Assembly, experts, industry participants, and other stakeholders.
The comment followed questions from lawmaker Kim Sang-hoon, who argued that key infrastructure remains incomplete only months before the tax is due to take effect. He pointed to weak capacity to track and verify transaction records from overseas exchanges, decentralized exchanges, and DeFi platforms.
Asked about the scale of tax revenue expected from virtual asset taxation, Lee said there are still areas that are 「difficult to accurately grasp」. He said tax collection would first require taxpayer filing data, and that revenue estimates could be developed further only after the related reporting system starts next year. He also said the policy would be reviewed cautiously.
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