South Korean Lawmaker Proposes Delaying Virtual Asset Tax to 2030

BitcoinWorld South Korean Lawmaker Proposes Delaying Virtual Asset Tax to 2030 A South Korean lawmaker has proposed postponing the country’s virtual asset income tax for another three years, pushing the effective date to January 1, 2030.

Representative Jung Sung-kook of the ruling People Power Party plans to introduce a partial amendment to the Income Tax Act, according to a report from MBN.

Why the tax is being delayed again The proposed delay would move the start of taxation on virtual asset income from January 1, 2027, to January 1, 2030.

Jung’s office indicated that the additional time is needed to complete a broader review of virtual asset taxation and related systems.