Recently, as the demand for postponement of virtual asset taxation has increased mainly among young investors, the Ministry of Strategy and Finance is keenly aware of the political response. This is because of concerns that the situation in which the Ministry of Economy and Finance fell to its knees during last year’s controversy over major shareholder standards could be reenacted.
According to the Cheong Wa Dae National Petition website on the 27th, about 48,000 people participated in the petition titled, Please increase the amount of deductible money for cryptocurrency and delay the application period of taxation. About 36,000 people participated in the petition, Do you touch bitcoin? Should men in their 20s and 30s live as slaves for life? 20,000 people participated in the petition, saying, If you take taxes from next year, please legalize and nurture virtual assets!
The government plans to separate and tax the income generated by transferring or lending virtual assets as other incomes next year at a 20% tax rate (local tax separate). The basic deduction is 2.5 million won. If a profit of 10 million won occurs, the tax will be paid by 20%, 1.5 million won, for 7.5 million won, minus the basic deduction. In taxation, the income and loss from various virtual assets for one year are added to the taxable income, but the carryover deduction is not applied.
In contrast, stocks will begin to be taxed from 2023, and tax will be imposed only on incomes with a basic deduction of more than 50 million won. If you see a loss on an annual basis, it means that you will 폰테크 pay taxes for the next five years.
Virtual currency investors are accepting this difference as tax discrimination because they see virtual assets as investment assets similar to stocks. In addition, the chairman of the finance committee, Eun Sung-soo, recently said, “The government can not protect all those who have invested in virtual assets.” ” (Virtual assets) are unrecognizable currencies.”As the government, which does not recognize the value of virtual assets, is trying to take away taxes, the number of participants reached 137,000 in the petition, I urge the chairman of the finance committee, Eun Sung-soo, to resign voluntarily. More than 8,000 petitions were filed for the dismissal of Chairman of the Financial Services Commission, Eun Sung-soo.
The Ministry of Economy and Finance, the main body of the tax-related bill, is in a state of embarrassment. The taxable period for virtual assets has already been delayed from October this year to January next year. The government’s position is that there is no problem because the basic deduction amount (2.5 million won) is also equal to other assets in general besides stocks. Some point out that it is difficult to treat equity investments that help corporate growth and economic development and investment in speculative virtual assets equally.
However, politicians who are conscious of the youth are looking for measures to take place. The ruling Democratic Party of Korea, which is in the process of inspecting the situation at the policy committee level, is considering establishing a separate special committee, and the power of the opposition party, the people, has also decided to launch a task force (TF) to study the virtual asset system. Some of the ruling party is reportedly arguing that it should review the tax postponement on virtual asset investment income.
As a result, inside and outside the department, there are observations that it may be subject to pressure from political circles that have put public opinion as in the controversy surrounding major shareholder standards last year.The Ministry of Economy and Finance pushed for a plan to lower the standard of major shareholders, which is subject to tax on capital gains tax, from 1 billion won to 300 million won last year, but it had to choose to maintain the status quo due to the political circles that were pushed to the back of public opinion