South Korea Tax Agency Starts Virtual Asset Tax Prep for January 2027

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South Korea’s National Tax Service started preparatory work for virtual asset taxation, ahead of a 22% tax on annual gains above 2.5 million won under the current Income Tax Act. The tax plan is expected to affect about 13.26 million people. Officials are targeting formal implementation in January 2027 and comprehensive income tax filings in May 2028.

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