The South Korean National Tax Agency launches the construction of a virtual asset transaction tracking system, paving the way for taxation in 2027 According to BlockBeats, on March 12th, the National Tax Service (NTS) of South Korea announced on Thursday that it has started building a tracking system for cryptocurrency investment returns. This move aims to align with the government's expansionary fiscal policy and the need to increase fiscal revenue. The construction of this system coincides with the government's plan to impose taxes on virtual asset profits starting from January next year. According to the announcement, the National Taxation Agency has launched a bidding process for the construction of the "Virtual Asset Trading Analysis Comprehensive System" project. The project, which is responsible for government and public institution procurement, has been released on its electronic bidding platform by the Procurement Agency, with a total amount of 3 billion Korean won (approximately 2.02 million US dollars). According to the plan, the winning bidder will be selected and signed within this month. The system design will start in April, and after multiple rounds of testing, it will enter the trial operation phase in November. It is expected to be officially launched within the year. The National Taxation Office stated that the system will start collecting personal virtual asset transaction data from 2027, and through systematic management and analysis of massive transaction information, more effectively detect tax evasion behavior, including identifying hidden income of tax debtors through tax audits. It is worth noting that the National Taxation Department plans to introduce artificial intelligence and machine learning technologies to analyze and track abnormal transaction types and patterns. At the same time, relevant virtual asset analysis data and suspect lists will be shared with other government departments such as the Korean Customs Service, Statistics Department, and Bank of Korea. According to South Korean tax law, starting from January next year, the portion of virtual assets with annual income exceeding 2.5 million Korean won will be subject to a comprehensive tax rate of 22% (including 20% income tax and 2% local income tax).