South Korea Proposes Pushing Crypto Tax Start to 2029
South Korea is proposing to delay its 22% crypto gains tax by two years, now aiming for 2029 instead of 2027, according to Cointelegraph. The plan would also let investors carry losses forward for three years. It marks the fourth delay since 2020.
South Korea has proposed moving the start of its 22% crypto gains tax to 2029, two years after the currently planned 2027 date, according to Cointelegraph. The proposal also includes a three-year loss carryforward for investors.
The change would mark the fourth time the tax timeline has been pushed back since 2020. That track record underscores how long South Korea has wrestled with when to start taxing crypto gains.
Under the plan, investors could carry losses forward for three years. The 22% rate would apply once the tax takes effect, if the proposal moves forward.
For now, the delay is a proposal, not final policy. The latest push would give South Korea’s crypto investors more time before the 22% tax kicks in.
TopicsSouth Korea · Cointelegraph
Source: x.com
Written by Paparazzi with AI. Not financial advice.
More stories
- Web3 & Cryptox.com0viewsXRP Ledger Deploys Fix for Token-Minting Bug
- Web3 & Cryptothedefiant.io0viewsFrance's Assembly Votes Down Budget, Sending Crypto Tax Plans to the Senate
- Web3 & CryptoHackcryptonews.com0viewsDemocrats Keep Digging Into CZ's Pardon as Binance Tallies a $6.34B Hack
- Web3 & Cryptox.com1viewSwan CEO Urges Crypto Firms to Adopt a Bunker Mentality on Security