South Korea postpones 20% crypto tax to 2025
The implementation of South Korea’s planned taxes on crypto earnings has been delayed by two more years, according to the 2022 tax reform plan announced on Thursday by government officials.
According to the tax reform plan, taxation on income from virtual assets as well as income from the “transfer or lending of virtual assets” will be delayed to 2025. The initial plans to levy an additional 20% tax on crypto gains exceeding KRW 2.5 million ($1,900) in a one-year period, remain unchanged.