Civic Group Calls for End to Delay on Virtual Asset Taxation

Civic group Participatory Budgeting urged the government and the National Assembly to stop discussions on further delaying the taxation of virtual assets (digital assets) and to implement it starting January next year. Participatory Budgeting criticized the government's and the Democratic Party's push for an additional two-year delay in taxing virtual asset income, stating that it undermines tax equity. In a statement, they pointed out that the implementation has already been delayed by six years due to three previous postponements, and demanding a delay due to insufficient preparation for taxation is unjust. They also rebutted the government's claims regarding the difficulties in securing overseas transaction information and the need for a digital asset law, emphasizing that major countries have been taxing digital asset income even before establishing automatic information exchange systems. Participatory Budgeting criticized the government's request for a tax delay, stating that the benefits of such a delay do not reach those who have incurred investment losses, and that it is problematic for the ruling party to demand a delay without holding itself accountable for the lack of preparation for taxation. Finally, they urged the government and the ruling party to implement the taxation of digital asset income as scheduled and to utilize tax revenues to support youth.

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