South Korea tax agency holds first meeting on digital-asset tax rules today

South Korea’s National Tax Service is holding its first advisory panel meeting today as it aims to establish a notice on digital-asset, or virtual-asset, taxation as early as October, Edaily reported. The National Tax Service is set to hold a closed-door meeting on Aug. 24 with a 12-member advisory committee on drafting the notice and begin full-scale discussions. Meanwhile, the government and ruling Democratic Party plan to proceed as scheduled with taxation from January next year under the principle that income should be taxed, while the opposition party is calling for either repeal or a delay, arguing the policy is unfair compared with stocks and that preparations remain insufficient.