Crypto Gains Tax Takes Effect
South Korea · TradFi · January 1, 2027
From January 1, 2027 South Korea taxes gains from selling or lending crypto at 20% above a KRW 2.5M annual deduction, per the National Tax Service.
South Korea's long-delayed tax on virtual asset income starts on January 1, 2027, according to the National Tax Service guidance. Gains from transferring or lending crypto are treated as other income and taxed separately at 20% (about 22% including local tax) after a basic annual deduction of KRW 2.5 million, with gains and losses netted across the year. Acquisition cost is calculated by the total average method. For coins already held before January 1, 2027, the cost basis is the higher of the actual purchase price and the market price as of December 31, 2026, set from exchange prices at 00:00 on January 1, 2027. The first returns are filed in May 2028 for the 2027 tax year. The tax has been postponed several times since it was first scheduled for 2022.
Last verified: · Source: nts.go.kr
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