People Power Party Questions Responsibility for Insufficient Preparation for Digital Asset Taxation

The People Power Party asked whether the government would be held responsible if preparations for digital asset taxation were insufficient, to which the Deputy Prime Minister responded affirmatively. Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il stated during a full meeting of the National Assembly's Finance and Economy Planning Committee on the 28th, in response to a question from lawmaker Park Soo-young, "We will do so." Lawmaker Park argued for a postponement of digital asset taxation based on data showing a decrease in domestic net inflows of digital assets and an increase in net outflows from some exchanges. When Park asked, "Is it correct that taxation will begin on January 1 of next year?" the Deputy Prime Minister replied, "According to current tax law, it is already scheduled to be taxed starting next year." In response to a question about the scale of tax revenue effects, he said, "I will check on that." Regarding questions about specific taxation measures, he mentioned, "The National Tax Service is preparing a notice in consultation and will strive to expedite the process as much as possible." He added, "In the case of the 2030 youth demographic, about 90% hold less than 5 million won, so I believe the tax burden will not be significant." Furthermore, he stated, "If there are issues regarding the tax burden, we will also seek supplementary measures to ensure taxpayer acceptance."

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