National Assembly Planning and Finance Subcommittee's First Day 'Canceled'... 'Discussion on Virtual Assets Taxation Postponed'

The National Assembly Planning and Finance Subcommittee, which is reviewing the tax law amendment proposal, was held on the 14th, but Democratic Party members declared non-participation, leading to the meeting being canceled. As a result, discussions on virtual assets (cryptocurrency) taxation are expected to be postponed.

According to the industry, Park Soo-young, chairman of the Planning and Finance Subcommittee, stated that since the Democratic Party members of the subcommittee did not attend, the subcommittee will restart from tomorrow (15th).

The subcommittee was scheduled to proceed with a total of seven sessions from today until the 25th, but as the subcommittee could not be held on the first day, the review is expected to proceed over six days. Consequently, discussions on virtual assets taxation have also been postponed to the next session.

On the same day, the Democratic Party members' declaration of non-participation is seen as a reaction to the previous day's unilateral passage of the government's budget bill, which included a proposal to cut the budget by half for the next year. Democratic Party's Planning and Finance Committee member Jeong Tae-ho criticized, "Chairman Song Eon-seok and the People Power Party members communicated the entire agenda to the ruling party three minutes before the meeting, and handled the agenda in just 1 minute and 20 seconds without the opposition members, which is like a robbery."