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South Korea’s planned virtual-asset tax, set to take effect on Jan. 1, may be delayed again, The Asia Business Daily reported. Amid investor pushback, calls are gaining traction to address gaps in the system, including securing trading data from overseas exchanges and introducing loss carryforwards, before moving ahead with taxation.
South Korea’s Ministry of Economy and Finance is scheduled to attend a ruling-party-hosted parliamentary forum on the virtual-asset market on Nov. 2 to discuss key issues in the tax regime and related policy tasks. A National Assembly official said the government’s appearance would mark its first public participation in about five months after it formally signaled its intention to pursue virtual-asset taxation at a parliamentary forum in May and then declined requests to attend subsequent National Assembly-hosted discussions.