# Income Tax Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Income Tax", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

South Korea Builds AI Tax Tracker While Moving To Drop Crypto Tax

South Korea's tax authority is investing $2 million in an AI system to track unreported cryptocurrency income, set to launch by late 2026. This move comes despite a legislative push by the opposition party to abolish the planned 20-22% crypto tax scheduled for 2027. Lawmakers argue the tax creates an uneven playing field, as stocks are not subject to a similar financial investment income tax, and enforcing it on foreign investors would be administratively burdensome. Simultaneously, law enforcement is tightening rules on privacy-focused cryptocurrencies, and exchanges will be required to monitor transactions for fraud starting in October.

bitcoinist03/21 11:02

South Korea Builds AI Tax Tracker While Moving To Drop Crypto Tax

bitcoinist03/21 11:02

South Korean Lawmakers Propose Bill To Abolish 22% Upcoming Crypto Tax

South Korea's opposition People Power Party (PPP) has proposed a bill to abolish the upcoming 20% income tax (up to 22% with local taxes) on crypto assets, scheduled to take effect in 2027. The party argues that classifying crypto as a commodity, similar to recent US regulatory guidance, makes its taxation under the current system inappropriate and could lead to double taxation. They also raised concerns about fairness, consistency, and administrative challenges. The ruling Democratic Party of Korea (DPK), which had previously supported the tax with a higher deduction limit, has agreed to review the amendment but noted it had not been previously discussed and that their stance had been to proceed with the existing policy.

bitcoinist03/20 12:32

South Korean Lawmakers Propose Bill To Abolish 22% Upcoming Crypto Tax

bitcoinist03/20 12:32

South Korea’s Opposition Party Pushes to Scrap 22% Crypto Tax Set for 2027

South Korea's main opposition People Power Party has proposed eliminating the planned 22% crypto income tax set to take effect in 2027. The party argues the current tax policy leads to double taxation and inconsistent treatment compared to other financial assets. The tax legislation, already postponed three times since 2022, would impose a 20% income tax plus local taxes on digital asset gains exceeding approximately $1,665. The proposal highlights concerns about regulatory challenges and administrative difficulties, particularly regarding non-resident foreigners. The ruling Democratic Party has acknowledged the proposal and stated it will be discussed. South Korea's crypto market was valued at roughly $63.4 billion as of mid-2025.

TheNewsCrypto03/19 14:54

South Korea’s Opposition Party Pushes to Scrap 22% Crypto Tax Set for 2027

TheNewsCrypto03/19 14:54

California to Impose a One-Time 5% 'Harvest' on Billionaires? Some Are Moving Overnight

California proposes a groundbreaking 5% one-time wealth tax on billionaires, aiming to raise approximately $100 billion from over 200 residents. The tax, which targets assets including private equity, publicly traded stocks, and high-value holdings, is set for a November voter referendum. Critics warn it could drive tech entrepreneurs and businesses out of the state, jeopardizing economic recovery, particularly in the AI sector. Proponents argue it addresses tax fairness, as billionaires currently contribute a small fraction of state income taxes. The measure faces legal challenges, political opposition, and implementation hurdles, including concerns over valuation methods and residency rules. Some billionaires are already relocating to avoid potential liability.

marsbit01/20 03:46

California to Impose a One-Time 5% 'Harvest' on Billionaires? Some Are Moving Overnight

marsbit01/20 03:46

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