South Korea to Start Taxing Crypto Gains Over $1,740 at 22% From 2027

South Korea plans to move forward with taxing cryptocurrency profits in 2027, with no further delay currently under consideration. According to ETnews, Deputy Prime Minister Koo Yuncheol told the National Assembly's Committee on Finance and Economy on July 29 that the government intends to implement the long-deferred virtual asset tax as scheduled. Beginning Jan. 1, 2027, individuals will face a 22% tax rate—including local income tax—on income from transferring or lending virtual assets that exceeds an annual exemption of 2.5 million won (about $1,740). The tax was initially set to take effect in January 2022, later postponed to 2025. A December 2024 amendment pushed the start date back by another two years to early 2027.

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