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Park Soo-young, vice chair of the ruling People Power Party’s policy committee, urged the government to confirm a delay to virtual asset taxation and first overhaul the systems and institutions needed to enforce the tax.
In a Facebook post published today, Park said investors, many of them young people, were not trying to evade taxes but were asserting their right as taxpayers to pay fairly under a completed system and framework. Park added that, according to a survey by Park’s office, the five major exchanges had exchanged official documents with South Korea’s National Tax Service 49 times but still had not built the necessary system. Park called on the government and the ruling Democratic Party to immediately confirm a tax delay and first put proper systems and institutions in place.