📰#FeiXiaoHao News: South Korea's National Tax Service: Residents Must Declare Comprehensive Income Tax for Virtual Asset Compensation Received from Overseas Companies
The National Tax Service of South Korea has clearly stated that residents who receive virtual assets in the form of service compensation from overseas companies must declare their comprehensive income tax in accordance with the law.
In its response in March of this year, the National Tax Service pointed out that if residents have not gone through a tax withholding combination and have received virtual assets as service income based on incentive contracts from foreign companies, they must fulfill their obligation to declare comprehensive income tax.
A case mentioned in the report shows that Singapore Company B plans to issue virtual assets to employees of its South Korean subsidiary Company C. The employee signed an incentive contract with Singapore Company B, engaged in blockchain and virtual asset exchange-related work as instructed, and received virtual assets as compensation.