South Korea Assembly Considers Bill to Partially Amend Income Tax Act

The South Korean National Assembly March 19 accepted for consideration Bill No. 2217609, to partially amend the Income Tax Act. The bill includes measures to: 1) abolish income tax on income arising from the transfer or lending of digital assets; 2) repeal all related provisions on the calculation of acquisition costs, necessary expenses, separate taxation, minimum taxable thresholds, withholding obligations, and reporting requirements for digital asset income; and 3) remove the corresponding domestic source income and nonresident taxation rules applicable to digital assets. The law would enter into force on the date of promulgation. [South Korea, National Assembly, 03/19/26]

Reference: ...