South Korea Prepares Crypto Tax Rollout Despite Repeal Push
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South Korea will tax cryptocurrency income from transfers or lending starting Jan. 1, 2027, applying an effective 22% rate to gains above 2.5 million won and barring loss carryforwards or offsets across crypto and other investments. The National Tax Service is expanding administrative systems and monitoring tools ahead of the rollout while repeal discussions and a public petition remain stalled, a move likely to increase compliance costs and weigh on crypto trading and DeFi activity.
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- South Korea expands crypto tax systems as lawmakers delay repeal discussions for 2027 rollout.
- New rules would tax crypto gains above 2.5 million won at an effective 22% rate.
- Current proposal bars loss carryforwards and offsets across crypto and other investments.
South Korea is moving ahead with preparations to introduce taxation on cryptocurrency income despite ongoing attempts to overturn the policy through legislation and a public petition. While the National Tax Service (NTS) has expanded its administrative framework and is developing tools to monitor digital asset transactions before the planned 2027 rollout, discussions on eliminating the tax remain on hold in the National Assembly.
Under the current Income Tax Act, income earned from the transfer or lending of virtual assets after Jan. 1, 2027, will become taxable. Investors will receive a basic annual ded…
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