ChainCatcher reported that according to Newsis, the South Korean Ministry of Strategy and Finance (MOEF) is re-evaluating the virtual asset taxation plan originally scheduled to be implemented in January next year.
This assessment takes place before the announcement of the tax law amendment scheduled to be released next month, which is in sharp contrast to the department's insistence earlier this year that it will proceed as planned and will not be re-evaluated. Experts have expressed concerns about the current tax framework, believing that it cannot effectively deal with the anonymity and decentralized nature of virtual assets.
It is worth noting that a recent study by the Congressional Budget Office highlighted major flaws in the current legislation, especially the reliance on cryptocurrency exchanges to provide transaction records required for taxation.
