Experts Raise Likelihood of Delay in Virtual Asset Taxation to 60-70%

Shin Byung-jin, managing partner at SL Partners and former official at South Korea’s Ministry of Economy and Finance tax bureau, stated that the likelihood of delaying the virtual asset taxation set to take effect next year has increased. He estimates the chances of a tax delay at 60% to 70% based on recent developments. Members of the tax subcommittee appear to be adopting a cautious approach towards taxation. Jung Sung-chul, an accountant at SL Partners, noted that he previously saw over 90% odds for the tax's implementation in the first half of this year, but now believes the chances of a delay have risen. Despite this, he still slightly favors the original implementation plan, estimating the odds at 55% for implementation versus 45% for delay, while acknowledging growing concerns that the timing for taxation may be premature.

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