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South Korea Confirms 2027 Crypto Tax: What Could Change for Local Investors?
['Kelvin Munene', 'Kelvin Munene Is A Senior Crypto Journalist', 'Editor With Over Seven Years Of Experience Covering Digital Assets', 'Blockchain Technology', 'Markets. He Has Worked With Top Crypto Publishers In Roles Including Senior Journalist', 'Sub-Editor', 'Editor', 'Shaping Timely News Coverage', 'Editorial Strategy Across The Crypto', 'Stocks Sector.']
Coinpaper
After three previous delays, South Korea finally plans to begin taxing virtual asset gains on January 1, 2027.
The Income Tax Act requires South Korea to tax profits from cryptocurrency and other virtual asset transactions.
The government plans to classify virtual asset profits as other income rather than standard capital gains.
Loss Carryforward Concerns Enter the Policy DebatePeople Power Party lawmaker Kim Sang-hoon questioned the lack of loss carryforward deductions for virtual asset investors.
He said policymakers must examine the wider capital market and related tax rules together.