South Korea's ruling party will gather more opinions on virtual asset taxation and reach a conclusion as soon as possible

Odaily reports: South Korea's ruling Democratic Party has stated that it will further collect opinions within the party on whether to postpone the taxation of virtual assets and determine its position as soon as possible. Floor spokesperson Jeon Eun-soo said that the party's official stance had not yet been finalized that day; Policy Committee Chairman Kwon Chil-seung conveyed a variety of views, including the opinion to postpone, while lawmaker Ahn Do-geol argued that taxation should be implemented together with the enactment of the Digital Basic Assets Act. If the taxation of virtual assets is not postponed again, it will take effect starting in January next year, imposing a combined rate of 22% for other income tax and local income tax on annual income generated from the transfer and rental of virtual assets after a basic deduction of 2.5 million韩元.