South Korea hears divided views on digital asset taxation

Cho Man-hee, head of the Tax Policy Bureau at South Korea’s Ministry of Economy and Finance, said authorities are aware of both support for taxing digital assets as scheduled and concerns over tax infrastructure and the potential outflow of funds overseas, Digital Asset reported. Speaking at the Korean Academic Society of Tax Law’s fall conference on Oct. 14, Cho said some argue digital assets should be taxed as planned to improve tax fairness with other income such as wage and business income. Cho added the ministry will listen closely to views discussed at the forum and seek sufficient discussion during deliberations in the National Assembly on digital asset taxation.