PANews
PANews|Sep 30, 2026 02:59
[South Korea's Opposition Party Calls for Reassessment of Virtual Asset Taxation, Proposes Postponement or Abolition of Crypto Tax Set to Take Effect in January Next Year] According to Yonhap News Agency, Chung Jin-suk, the floor leader of South Korea's People Power Party (the largest opposition party in South Korea), stated that the government needs to reassess the plan to establish the 'Future Response Fund,' which is funded by excess tax revenue, as well as the taxation system on virtual assets (digital assets). Chung Jin-suk emphasized that excess tax revenue is temporary, while increased expenditures are difficult to reduce once implemented, and therefore, priority should be given to alleviating the tax burden on citizens. Regarding the virtual asset taxation scheduled to take effect in January next year, he called for its postponement or abolition, arguing that forced taxation could lead to capital outflows to regions such as Hong Kong and Singapore.
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