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Lee Hyoung-il Says Crypto Tax Guidelines to Be Announced This Year, Backs ‘Other Income’ Classification

Lee Hyoung-il Says Crypto Tax Guidelines to Be Announced This Year, Backs ‘Other Income’ Classification

  • Lee said detailed tax guidelines related to the planned Jan. 1 launch of virtual asset taxation next year will be announced through a National Tax Service notice before year-end.
  • Lee said the current tax system, which classifies virtual asset income as other income, is appropriate because it allows taxpayer-friendly treatment such as a basic deduction and a single tax rate.
  • Lee said virtual asset taxation would help improve tax fairness across asset classes compared with stocks and other assets, and that any introduction of the financial investment income tax should be reviewed only after financial markets have stabilized.

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Photo: Lim Hyung-taek
Photo: Lim Hyung-taek

Lee Hyoung-il, South…

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