The time of taxation of virtual assets is deferred for one year, and the non-taxation standard for transfer tax is raised.

The National Assembly Planning and Finance Committee held a subcommittee on taxation yesterday (29th) and agreed to amend the Income Tax Act.

As a result, the taxation of virtual assets will be delayed by one year from the original plan of 2022 to 2023.

The standard for non-taxation of transfer tax for one household per household will increase from 900 million won to 1.2 billion won.

However, the opposition and opposition parties could not narrow their differences on the differentiating measures such as the long-term special deduction (special deduction for long-term ownership) of housing transfer income tax, such as the period of residence and the starting point of the holding period, so it was not possible to cross the threshold of the sub-tax subcommittee.

The amendments to the Income Tax Act, which passed the sub-committee, are expected to be decided at the plenary meeting of the Ministry of Economy and Finance today (30th).

(Photo = Yonhap News)