South Korea considers delaying crypto gains tax until 2029

Politics · First reported 26 Oct, 10:06 · Updated 22:05

South Korea is considering a fourth postponement of its cryptocurrency gains tax, which is currently scheduled to begin in January 2027. A delay until 2029 is under discussion amid concerns about tracking overseas trades before U.S. crypto data-sharing begins; a change would require parliamentary approval.

South Korea is weighing a fourth postponement of its crypto gains tax, potentially moving its start from January 2027 to 2029.
Officials are concerned the tax could fall more heavily on users of domestic exchanges if authorities cannot readily track activity on U.S. platforms.
Under the OECD timetable described in the report, South Korea is due to begin exchanging crypto trading data in 2027, while the U.S. is due to start in 2029.
A proposed change to the start date would require parliament to amend the law; a final decision was expected by early December.
The current rules set a 20% tax on annual net income from crypto transfers or lending, or 22% including local income tax, after a 2.5 million won deduction.

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Key facts

Current listed start date: January 1, 2027
Potential revised start date: January 1, 2029
Tax rate under current rules: 20%, or 22% including local income tax, after a 2.5 million won deduction
U.S. data-exchange start: 2029 under the OECD timetable cited in the report
Approval required: Parliament must amend the law for a delay