The Korea IRS plans to introduce digital asset tracking procedures

According to digitalasset, the Korea National Tax Office plans to introduce digital asset tracking procedures to analyse the transfer of individual wallets and assets on overseas exchanges to fill tax gaps. According to the IRS, income from transfers and loans of personal wallets and digital assets held by overseas exchanges remains within the scope of taxation. The Korean Digital Asset Income Tax will be implemented in 2027, and the UAE expects to exchange business information for 2027 after the implementation of CARF in 2028。