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Korea National Tax Service: Residents must declare comprehensive income tax for labor compensation received from overseas companies in virtual assets.
According to BlockBeats news on July 9, reported by Digital Asset, the South Korean National Tax Service stated that residents who receive virtual assets from overseas companies in the form of labor remuneration are required to declare comprehensive income tax in accordance with the law. In a response earlier this March, the South Korean National Tax Service pointed out that if the wage income is not subject to withholding tax through a tax combination, the taxpayer has the obligation to file the final declaration of comprehensive income tax on their own.