Tax Deferral on Virtual Assets Stalled Due to Government Opposition... Further Discussion on the 26th
[Asia Economy Reporter Yoo Hyun-seok] The ruling and opposition parties' proposed 'virtual asset tax deferral bill' faced opposition from the government and failed to pass the standing committee.
The National Assembly's Planning and Finance Committee's Tax Subcommittee discussed the amendment to the Income Tax Act related to the deferral of virtual asset taxation on the afternoon of the 24th.
However, the government officials attending the subcommittee maintained their opposition, causing the agreement to collapse.
The Planning and Finance Committee's Tax Subcommittee plans to reconsider the virtual asset tax deferral bill on the 26th.
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The ruling and opposition parties have each proposed bills to postpone the timing of virtual asset taxation from the originally scheduled next year to a later date. On the other hand, the government insists that taxation should begin next year as stipulated in the current Income Tax Act.
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