South Korea tax chief says crypto tax notice is being prepared for November

South Korea’s National Tax Service Commissioner Lim Kwang-hyun said preparations are under way to issue a public notice on virtual asset taxation around November, Edaily reported. Speaking at a parliamentary audit at the National Tax Service headquarters in Sejong on Oct. 13, Lim made the remarks after People Power Party lawmaker Lim I-ja, the party’s policy committee chair, asked about preparations including the tax notice. Lim said the agency is also monitoring progress in the National Assembly as it prepares. Lim added that even if the law takes effect, taxation would not begin immediately, and gains from trades made next year would be taxed in 2028.