South Korea’s Tax Agency Starts Drafting Crypto Tax Rules, to Hold First Closed-Door Advisory Meeting on Aug. 24

South Korea’s National Tax Service is starting work in earnest on an administrative notice that will set taxation standards for virtual assets ahead of the planned rollout of the tax regime in January 2027.

The agency’s Digital Asset Division recently finished forming a 12-member advisory panel to draft the notice, Edaily reported on Aug. 11. The panel will hold its first meeting on Aug. 24, and the National Tax Service is targeting October for the notice’s release.

The notice will likely lay out acquisition-cost standards and tax treatment for different types of digital-asset transactions, including staking, airdrops, hard forks and token swaps. The agency also plans to review newer transaction types as it works out more detailed rules.

Advisers were asked to sign confidentiality pledges barring them from disclosing whether they are participating in the panel, as well as its makeup, meeting schedule and discussion details, the report said.

The tax agency believes the advisory process should remain confidential because disclosure of matters still under review could trigger market confusion or allow specific stakeholders to exert influence.

Under South Korea’s current income tax law, income generated from the transfer or lending of virtual assets will be classified as other income and taxed starting Jan. 1, 2027. A 22% rate — comprising a 20% tax on other income and a 2% local income tax — will apply to annual income exceeding $1,800.