South Korea lacks crypto tax revenue estimate ahead of 2027 rollout

South Korea’s government has yet to estimate expected tax revenue or even administrative costs ahead of the planned January 2027 rollout of taxation on virtual asset income, Edaily reported. That means tax obligations will be imposed on around 13 million virtual asset investors without a full assessment of the policy’s fiscal impact or administrative burden. According to materials that People Power Party lawmaker Kim Sang-hoon’s office received on Sept. 14 from the Ministry of Economy and Finance and the National Tax Service, neither agency was able to provide estimates for expected tax revenue effects or collection costs tied to the 2027 launch. The ministry said the first filing under the new tax regime would take place in May 2028 and added a reasonable estimate of revenue effects after 2028 was impossible. The National Tax Service also said it was difficult to produce an independent estimate because it did not hold the relevant filing and taxation data before enforcement begins.