#One. Mr. A, who lives a luxurious life while running a hospital in Gangnam, Seoul, invested the money he earned in virtual assets without paying taxes of 2.7 billion won. The National Tax Service collected and analyzed the status of virtual assets of delinquents in the virtual asset exchange, and confirmed that Mr. A concealed the hospital income of 3.9 billion won as virtual assets. When the National Tax Service seized the virtual assets held by Mr. A, Mr. A paid the entire amount of the back tax of 2.7 billion won in cash.
#2. Mr. B, the delinquent person, sold a real estate in Gyeonggi-do for 4.8 billion won and did not pay the capital gains tax of 1.2 billion won. The transfer amount was concealed in a virtual asset. Upon grasping this, the National Tax Service seized the virtual assets held by Mr. Lee and collected and collected the entire amount in cash.
#3. C inherited financial assets of 1.7 billion won due to his father’s death, but held the inherited property of 500 million won as a virtual asset without paying an inheritance tax of 200 million won. Mr. ㄹ held the gifted property as a virtual asset of 100 million won without paying 2.6 billion won in tax arrears due to a reduction report on the property donated from related parties. The National Tax Service seized virtual assets held by C·ㄹ to secure bonds.
On the 15th, the National Tax Service announced on the 15th that it secured a total of 36.6 billion won in cash and bonds by performing compulsory collection of 2416 delinquent people who did not pay taxes while holding property and income as virtual assets such as bitcoin.
With the recent increase in virtual asset transaction value, such as the average daily transaction value of virtual assets surged from 1 trillion won last year to 8 trillion won this year, the National Tax Service explained that it has enforced compulsory collection for high-delinquent payers who concealed their assets with virtual assets.
Earlier, the Supreme Court determined that virtual assets in 2018 were subject to confiscation. Since then, there have been cases in which an investigative agency confiscated virtual assets involved in a crime, but this is the first time that a government department seized virtual assets against a delinquent person.
As virtual assets are subject to fluctuations in price, the National Tax Service plans to convert virtual assets secured to bonds into cash at an appropriate time in consideration of price trends to cover the arrears. “Recently, as the price of virtual assets such as bitcoin increases, the effectiveness of forced collection is expected to increase further.” I will exchange it,” he said.
On the other hand, the government defined virtual assets as’electronic certificates with economic value’ through amendments to the law last year, and plans to impose a 20% income tax on gains from the transfer of virtual assets exceeding 2.5 million won from next year.
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