South Korea defends 22% crypto tax as fair amid calls to delay rollout
Crypto Briefing
South Korea maintains its plan to implement a 22% tax on cryptocurrency gains by 2027, rejecting claims of unfairness compared to stock investment policies.Summary
South Korean finance authorities have confirmed that a 22% tax on virtual asset gains will proceed as scheduled in 2027. Despite pushback from critics who argue the policy is unfairly burdensome compared to recent stock tax exemptions, officials maintain that the tax is based on established 2020 legislation and the principle that all income should be taxed where it arises. The government defends the miscellaneous income classification as consistent with international standards for intangible assets and suggests the flat rate may actually benefit high-income earners. Additionally, officials stated that necessary tax infrastructure and compliance tools are currently being developed to support the rollout.
(Source：Crypto Briefing)