South Korea’s Finance Ministry Joins Push to Hold Off Crypto Tax Until 2029

South Korea’s government put its own name to another delay of the country’s crypto income tax on Nov. 5, saying it will ask the National Assembly to move the start date from Jan. 1, 2027 to 2029 . The ruling Democratic Party had proposed a deferral the day before. The finance ministry said in a statement that it would consult lawmakers on the two-year postponement and use the time to prepare the tax system. The tax itself is already law; what changes is when collection begins, and only once lawmakers amend the Income Tax Act. A 2020 amendment created the levy; this would be its fourth postponement . Deputy Prime Minister and Finance Minister Lee Hyoung-il gave two reasons at a briefing.

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