No Change Announced to South Korea’s 2027 Crypto Tax Timetable After Talks

No change to South Korea’s January 2027 crypto tax timetable was announced after officials met five exchanges in Seoul, as industry participants sought clearer rules and more preparation time.

South Korea’s Ministry of Finance and Economy convened the Oct. 20 session with Dunamu, Bithumb, DigitalX, Coinone and Streami. The Financial Services Commission also attended. The meeting followed earlier plans for a discussion of the 2027 tax framework.

The discussion covered current tax rules, market conditions and preparations for implementation. Industry participants called for clearer standards and more time to build and test systems for submitting tax data.

South Korea adopted the framework in 2020, with implementation originally planned for 2022. The start date was later delayed to 2023, 2025 and then 2027. A combined 22% rate is planned for qualifying annual income from crypto transfers and lending after a 2.5 million won deduction.

The National Tax Service is preparing detailed rules. Experts have called for clearer tax treatment of staking. If the rules are released in November, about two months would remain before the scheduled start.