Korean tax expert: lower level of trade tax may be levied before income tax on crypto trading profits

Earlier news, the South Korean government plans to include taxation on cryptocurrencies in its tax reform plan for next year. Experts from the Korea Tax Policy Association recently suggested at a seminar that the Korean government impose a lower level of trade tax on crypto trading profits before it levies transfer income taxes. The Korean Blockchain Association also made the same recommendation, "Relevant laws are still missing and the tax infrastructure is still insufficient to cover cryptocurrencies, so some additions need to be added in the calculation of fees."