WirepolicyDextape brief
South Korea Pushes 22% Crypto Tax to 2029 in Fourth Delay, Offers Three-Year Loss Carryforward
South Korea's government will ask lawmakers to delay its 22% crypto gains tax to 2029 and let investors carry losses forward for up to three years.
Dextape brief
Seoul plans to postpone its crypto gains levy until 2029, Finance and Economy Minister Lee Hyeong-il announced Thursday, which would be the fourth postponement. The tax is due in January, so lawmakers must amend the Income Tax Act first. The government cited missing purchase price data for tokens bought overseas and moved to Korean exchanges, with U.S. exchange data arriving in 2029. The 22% rate, with local income tax included, remains for annual net income above 2.5 million won, and the proposal adds a three-year loss carryforward for 2029 losses, through 2032. A working group of industry, experts and officials will review rules in the first six months of 2027, and detailed guidelines are due in 2028.
Why it matters: It keeps Korean retail traders outside the tax for longer while tying enforcement to foreign exchange records and a proposed loss carryforward.
Read the full story
Mentioned in this story
Open a coin page for its current price.