South Korea’s Tax Agency Starts Drafting Crypto Tax Rules, Holds First Private Advisory Meeting Aug. 24

South Korea’s National Tax Service is beginning work in earnest on an administrative notice setting tax standards ahead of the planned January 2027 rollout of virtual-asset taxation.

Edaily reported on Aug. 11 that the National Tax Service’s Digital Asset Division recently completed the formation of a 12-member advisory panel for the notice. The panel will hold its first meeting on Aug. 24, and the agency is targeting October for the notice’s enactment.

The notice is set to cover acquisition-cost calculations and tax treatment for various types of digital-asset transactions, including staking, airdrops, hard forks and token swaps. The tax agency also plans to check whether newer transaction types have emerged and draw up detailed standards for them.

The National Tax Service has reportedly required advisory members to sign confidentiality pledges barring them from disclosing their participation, the panel’s composition, meeting schedules or the substance of the discussions.

The agency maintains that the advisory process must remain confidential because disclosure of matters still under review could cause market confusion or allow particular stakeholders to exert influence.

Under the current income tax law, income from the transfer or lending of virtual assets will be classified as other income and taxed starting Jan. 1, 2027. Annual income above 2.5 million won ($1,810) will be subject to a 22% rate, combining a 20% tax on other income and a 2% local income tax.