Handonghun to Democratic Party's 'Opposition to Virtual Asset Tax Deferral': "Let's Not Do This"

Han Dong-hoon, leader of the People Power Party, said on the 13th, regarding the Democratic Party of Korea's opposition to the government's policy of a '2-year deferral of virtual asset investment income taxation,' "Let's not do this."

On Facebook, Han said, "The Democratic Party, which reversed its stance to support the abolition of the financial investment income tax due to public opinion, probably did not expect that virtual asset investors would also not anticipate them opposing the government's deferral policy and proposing immediate taxation starting January next year," expressing his view.

Handonghun, the leader of the People Power Party, is speaking at the "Emergency Countermeasure Meeting to Prevent Judicial Obstruction by Lee Jae-myung of the Democratic Party" held at the National Assembly on the 12th. Photo by Kim Hyun-min

He stated, "Virtual asset investment is especially common among 'young people.' To support the burden and asset formation of young people, the government decided in July to defer virtual asset taxation for two years."

He continued, "If profits are taxed annually according to the current law, losses will not be reflected, inevitably causing strong tax resistance," and pointed out, "When income is high, individuals registered as dependents under health insurance may be reclassified as regional subscribers, leading to separate health insurance premiums being charged."

Earlier, the government announced a tax law amendment in July, stating its intention to defer the taxation of virtual asset investment income, originally scheduled for next year, to 2027, a two-year postponement.

However, Roh Jong-myeon, the Democratic Party's floor spokesperson, told reporters after a floor countermeasure meeting the day before that the party's position on the government's two-year deferral policy for virtual asset taxation was "unacceptable."