South Korea plans to push back the start of its crypto gains tax by two years, moving the implementation date from 2027 to 2029, according to Finance Minister Lee Hyoung-il. The government said it will work with the National Assembly on the required legislation. Officials also said South Korea aims to begin exchanging virtual asset tax information with the United States in 2029 and wants to refine its taxation framework for both domestic and overseas transactions before that begins. Under the current proposal, annual crypto gains above 2.5 million won, or about $1,869, would be taxed at 22%. The government is also studying whether investors should be allowed to carry forward losses for up to three years to offset future gains. A related amendment is scheduled to be submitted to the National Assembly during its regular session in 2027.
South Korea plans to delay the launch of its tax on cryptocurrency gains by two years, moving the start date from 2027 to 2029, Finance Minister Lee Hyoung-il said, according to Odaily.
The government said it intends to coordinate with the National Assembly to advance the necessary legislation.
South Korea also plans to begin exchanging virtual asset tax information with the United States in 2029. Before that, the government wants to improve the tax framework covering both domestic and overseas transactions.
Under the current plan, annual individual crypto gains above 2.5 million won, or about $1,869, would be subject to a 22% tax rate.
The government is also studying a proposal that would allow investors to carry forward losses for three years to offset future gains. A related amendment is set to be submitted to the National Assembly during its regular session in 2027.
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