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Profits from investing in U.S. stock-linked perpetual futures through overseas crypto exchanges will be subject to an 11% tax starting next year, Maeil Business Newspaper reported in an exclusive.
According to the report, South Korea’s Ministry of Economy and Finance has decided to classify U.S. stock-linked perpetual futures as overseas equity derivatives and include them in the capital gains tax base. The products, derivatives tied to U.S. stocks, began emerging in earnest this year, while no clear taxation policy had previously been set.
The report said the 11% rate is half the 22% tax applied to overseas spot stocks. Taxes will be imposed on the amount remaining after a basic deduction of 2.5 million won from annual profits.