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21h ago

South Korea Sets January 2027 Start for 22% Tax on Crypto Gains

The move signals the government will proceed despite calls to delay tied to stock tax changes.

South Korea defends 22% crypto tax as fair amid calls to delay rollout
South korea pushes 22% crypto tax on gains above $1,850 starting in january

Overview

  • The Finance Ministry, speaking Thursday at a National Assembly forum, confirmed the January 1, 2027 launch for taxing virtual‑asset gains.
  • Gains above 2.5 million won will be taxed at a combined 22% rate, made up of a 20% national income tax and a 2% local income tax.
  • The levy will cover income from crypto transfers, trading, and lending, which officials classify as miscellaneous income under a 2020 law.
  • The National Tax Service will publish detailed guidance in 2026 and is working with Upbit, Bithumb, Coinone, Korbit, and Gopax to set data reporting, with the first full filing expected in May 2028 for 2027 income.
  • Academics, industry groups, and some lawmakers object to the plan as unfair to crypto investors, but officials say the schedule stands unless parliament changes the law.