Coin Taxation Postponement Again?...Ministry of Finance Weighs Option

IconCryptoNewsTerminal Staff14 Jul, 2024

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Coin Taxation Postponement Again?...Ministry of Finance Weighs Option

According to Newsis, the Ministry of Planning and Finance has clarified that no decision has been made regarding the potential postponement of virtual asset income taxation. This comes after reports in domestic media suggested that the Ministry was considering such a move due to the ongoing development of the taxation system for virtual assets. National Assembly Planning and Finance Committee Chairman Song Un-seok, a member of the People's Power Party, has also proposed an amendment to the Income Tax Act that would delay the implementation of the taxation by three years to January 1, 2028.

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