{"id":54023,"date":"2021-12-03T10:38:48","date_gmt":"2021-12-03T08:38:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54023"},"modified":"2025-09-03T18:06:34","modified_gmt":"2025-09-03T15:06:34","slug":"south-korea-delays-tax-on-bitcoin-traders","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-korea-delays-tax-on-bitcoin-traders\/","title":{"rendered":"South Korea delays tax on Bitcoin traders"},"content":{"rendered":"<p>The National Assembly of South Korea passed an amendment to the legislation that would introduce taxation of cryptocurrencies from 1 January 2023. <a href=\"https:\/\/www.coindeskkorea.com\/news\/articleView.html?idxno=76478\">CoinDesk<\/a> reports.<\/p>\n<p>The government <a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-to-impose-capital-gains-tax-on-cryptocurrency-trades-from-2022\">planned<\/a> to levy a 20% tax on profits from trading virtual assets, exceeding 2.5 million won (~$2,118), from 1 January 2022.<\/p>\n<p>Despite <a href=\"https:\/\/u1f987.com\/en\/news\/south-koreans-back-tax-on-cryptocurrency-traders\">public support<\/a> for the government&#8217;s plans, in September lawmakers from the ruling Democratic Party of Toburo <a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-proposes-delaying-capital-gains-tax-on-crypto-traders\">spoke out against<\/a> a one-year delay.<\/p>\n<p>In October, a similar proposal <a href=\"https:\/\/u1f987.com\/en\/news\/south-koreas-opposition-urges-delay-to-cryptocurrency-taxation\">was introduced<\/a> by representatives of the opposition party &#8216;People Power&#8217;. The lawmakers argued that the fiscal infrastructure was not ready for the introduction of the tax.<\/p>\n<p>The government <a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-sticks-to-plans-to-tax-bitcoin-traders-from-2022\">beat back<\/a> attempts by lawmakers to approve the delay, but at the end of November the relevant National Assembly committee <a href=\"https:\/\/news.mt.co.kr\/mtview.php?no=2021112914193174146\">\u043f\u0440\u043e\u0433\u043e\u043b\u043e\u0441\u043e\u0432\u0430\u043b<\/a> for a bipartisan amendment that postpones the introduction of taxation for one year. Parliament backed the proposal.<\/p>\n<p>Earlier, authorities in South Korea <a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-hints-at-nft-tax\">hinted<\/a> at a possible introduction of a tax on NFT transactions, although previously <a href=\"https:\/\/u1f987.com\/en\/news\/south-korean-authorities-exempt-nfts-from-cryptocurrency-regulation\">stated<\/a> that NFTs do not fall under the definition of virtual assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Assembly of South Korea passed an amendment to the legislation that would introduce cryptocurrency taxation from 1 January 2023. CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":54024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[974,558],"class_list":["post-54023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-south-korea","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=54023"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54023\/revisions"}],"predecessor-version":[{"id":54025,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54023\/revisions\/54025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54024"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}