On the 28th, the National Tax Service announced on the 28th virtual asset business operators to evaluate assets when inheriting or donating virtual assets from January 1 of next year.
The virtual asset operators announced this time are four exchanges: Dunamu Co., Ltd. (service name: Upbit), Bithumb Korea Co., Ltd., Korbit Co., Ltd., and Coinone Co., Ltd.
These four exchanges are business operators that have obtained information security management system certification, secured a real-name bank account, and received reports to the Financial Intelligence Service.
Accordingly, from next year, when inheriting or donating virtual assets traded on exchanges designated as virtual asset business operators, the average value of the daily average value for one month before and after the evaluation base date is evaluated.
Virtual assets traded on other exchanges are evaluated at the final market price as before, or at a value that is reasonably recognized, such as the daily average price of the trading day.
The daily average price of virtual assets traded on the exchanges of businesses notified by the Commissioner of the National Tax Service can be inquired on the website of each virtual asset business establishment.
In the case of virtual assets traded on multiple of the four exchanges, the average daily price for each business site announced every day is averaged, and then evaluated with the average value for one month before and after the evaluation base date.
For example, for virtual assets traded on all four exchanges, the average amount of daily average prices announced by the four exchanges is regarded as the ‘average daily price of virtual assets’ and the average amount for one month before and after the evaluation base date is calculated.
The National Tax Service is planning to create a new screen in March next year for the ‘Virtual Asset Daily Average Price Inquiry’ screen in Hometax to solve the difficulty of calculating the average daily average price for one month before and after the evaluation base date.
Meanwhile, the enforcement of tax on income (other income) generated from transfer and rental of virtual assets has been postponed until 2023.
