South Korea's National Tax Service: Cryptocurrency earned from overseas employment must be declared and paid for income tax
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最新报道：According to the news on July 9th, the National Tax Service (NTS) of South Korea has made it clear that virtual assets obtained from overseas companies as labor income must be reported in the comprehensive income tax return. In March of this year, the National Tax Service received an inquiry about whether residents who signed separate incentive contracts with foreign companies and obtained cryptocurrencies from them need to report them as foreign income. On July 9, the agency confirmed that if taxes are not withheld through the tax association, taxpayers must submit a comprehensive income tax return. The National Tax Service's position is based on Article 127 (withholding liability) and Article 70 (final declaration of global income tax base) of the Income Tax Act.
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