According to a report by Korean media Digital Asset, the Korean National Tax Agency has made it clear that virtual assets obtained by residents from overseas companies in the form of labor income are also subject to comprehensive income tax.
In response to the consultation in March this year, the State Administration of Taxation said that if a resident obtains virtual assets from a foreign company as overseas labor income under a separate incentive contract and does not withhold them through the tax portfolio, they are obliged to make a comprehensive income tax declaration.
The case involves Singapore Company B's plan to distribute virtual assets to employees of its South Korean subsidiary, Company C. The employee signed an incentive contract directly with Singapore Company B to engage in blockchain and virtual asset exchange-related work as instructed by Company B, and received virtual assets as compensation.
South Korea's National Tax Agency: Residents who obtain virtual assets in the form of "labor income" from overseas companies need to declare comprehensive income tax
2025-07-09 03:37:48
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