Seoul opposition bill chooses 2030 for the 22% crypto levy

A South Korean opposition lawmaker proposed postponing the country’s 22% tax on crypto profits to January 1, 2030, three years later than the current start date.

That puts it in conflict with a government that has just reiterated plans to start taxing crypto in 2027. About 13 million South Koreans buy and sell crypto and would pay taxes on annual gains of more than 2.5 million won, or about $1,800.

Jeong’s amendment resets crypto taxes to 2030

The bill was proposed by opposition bloc People Power Party Representative Jeong Seong-guk. Jeong plans an amendment to the Income Tax Act to keep the tax provisions but reset the effective date from January 1, 2027, to January 1, 2030.

Lawmakers and tax authorities need the additional three years to finish their review of the virtual asset tax framework, strengthen investor protections, and build the systems required to tax crypto fairly, he says.

He contends that the statutory deadline, arriving on schedule, does not justify starting collection. First, taxpayers need a system they can live with.

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