KDP has agreed to the government’s proposal to delay the implementation of capital gains tax on cryptocurrencies by two years. Initially set to take effect in January 2025, the tax will now be postponed until 2027.
South Korea’s opposition party (KDP) has agreed to the government’s proposal to delay the implementation of capital gains tax on cryptocurrencies by two years. Initially set to take effect in January 2025, the tax will now be postponed until 2027. This marks the third delay since the law was first proposed in 2021. Despite the agreement on this tax measure, disputes persist in other areas of taxation. For instance, the KDP has opposed a reduction in inheritance tax and has proposed raising the tax-free threshold for crypto gains from 2.5 million won to 50 million won. This cautious approach to crypto regulation could encourage more investment in the sector.
Source: tronweekly.com
