On the 29th, Park Jeong-yeol, head of the National Tax Service's individual taxation bureau, was asked about virtual asset income tax declaration during a briefing on 'May Comprehensive Income Tax and Local Income Tax Declaration' held at the National Tax Service headquarters in Sejong City. He replied, "As the law has been enacted to tax income from virtual assets starting next year, we are preparing to receive declarations from the 2028 (May) comprehensive income tax declaration." According to E-Daily, under the current Income Tax Act, income generated from the transfer or lending of virtual assets from January 1st next year will be classified as 'other income'. A 22% tax rate, combining a 20% other income tax and a 2% local income tax, will be applied to profits exceeding 2.5 million won annually. The taxation target is 13.26 million virtual asset investors (based on Upbit's cumulative members as of December last year).
