PANews April 29 news, according to Edaily, the head of the Personal Taxation Bureau of the National Tax Service of Korea, Park Jeong-ryeol, stated in a briefing on April 29 that despite the ongoing controversy over the taxation of virtual assets, the National Tax Service has begun preparations for implementing taxation in January next year, aiming to ensure a smooth comprehensive income tax declaration in May 2028. According to the current income tax law, from January 1, 2027, gains from the transfer and leasing of virtual assets will be classified as "other income," subject to a tax rate of 22% on annual earnings exceeding 2.5 million Korean won (other income tax 20% + local income tax 2%). Approximately 13.26 million people are subject to taxation. The National Tax Service plans to officially obtain data from virtual asset exchanges such as Upbit, Bithumb, Coinone, Korbit, and StreamiGopax starting next year to build a taxation foundation and improve the standards for calculating transfer price differences and the data linkage between HomeTax and exchanges. The comprehensive analysis system for virtual assets is expected to be officially launched by the end of this year. However, the People Power Party advocates for the abolition of the taxation of virtual assets, citing the inadequacy of taxation standards and the potential outflow of funds to countries not participating in CARF.

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