Opposition: "We Welcome Virtual Asset Tax Postponement... Government and Ruling Party Must Apologize for Policy Confusion"

"The ruling party must stop dragging its feet and cooperate in deliberating on the bill."

The government announced on the 5th that it would postpone taxation on virtual assets by two years. The opposition welcomed the move but also called on the government and ruling party to first apologize to investors who have been left anxious by policy confusion.

Members of the National Assembly’s Planning and Finance Committee from the People Power Party said this in a statement issued that day.

Opposition lawmakers, including Bae Jun-young, the People Power Party's secretary on the National Assembly's Finance and Economy Planning Committee. Yonhap News.

The opposition committee members said, "The government announced today that it would pursue a two-year postponement of virtual asset taxation until 2029." They added, "Although belated, we welcome the government’s recognition of the need to ensure tax fairness and protect investors, as the People Power Party’s Planning and Finance Committee members have been calling for."

However, "The Lee Jae-myung government pursued the implementation of taxation without resolving problems such as the tax imbalance between domestic and overseas exchanges, and the Democratic Party of Korea declined to take part in deliberations on the bill, only asking the government to postpone taxation with implementation just around the corner," they said. "While the government and ruling party have been passing the buck, public confusion has only grown."

They also said, "The measures announced by the government to secure overseas tax information and introduce a three-year loss carryforward deduction are belated responses to issues the People Power Party has consistently raised." They added, "It is a relief that the need for a postponement has been recognized, but that does not erase the government and ruling party’s responsibility for delaying a decision all this time," and called for an apology.

They further said, "The government must thoroughly establish the tax infrastructure, and the Democratic Party must stop dragging its feet and cooperate in deliberating on the bill." They added, "The People Power Party’s Planning and Finance Committee members will carefully ensure that this postponement leads to a fair tax system and meaningful investor protection."

This content was produced with the assistance of AI translation services.