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With this, from next year, money earned in virtual currency will also be taxed. Let's look at that part a little bit more about how the tax on financial investment income will change

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Initially, from 2022, the government decided to tax 20% on income from financial investments such as securities, funds, and derivatives.

As for investments in domestic stocks, it was decided to tax profits exceeding 20 million won from 2023.

However, the backlash of individual investors called'Donghak Ants' increased, and the president retreated largely from the draft when he raised his hand saying,'You shouldn't break your will to invest.'

The tax on financial investment income was postponed to 2023, and domestic stocks and public offerings were combined to raise the tax exemption limit to 50 million won.

Accordingly, the taxable target is expected to decrease to 2.5% from the level of 5% and 300,000 of the original investors.

[Hong Nam-ki/Deputy Prime Minister: Most equity investors enjoy the tax exemption on equity transfer gains as they are now, but the burden of securities transaction tax is likely to be greatly reduced.]

However, the deduction range of 50 million won is overdue, so the financial investment income tax called strengthening tax equity Criticism has also emerged that the purpose of the introduction has faded.

The taxation method for financial investment income has also been changed from monthly to semiannual withholding.

It was an acknowledgment that withholding on a monthly basis would reduce investment.

The securities transaction tax is set to fall by 0.02%P next year and 0.08%P in 2023.

Virtual assets such as Bitcoin are also taxed on trading income starting October next year.

You must pay 20% tax on profits exceeding 2.5 million won per year.

(Video coverage: Kim Min-cheol, video editing: Kim Ho-jin)  

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