The Korean National Tax Service has clearly stated that residents who receive virtual assets from overseas companies as compensation for labor must declare comprehensive income tax in accordance with the law.
In a response in March of this year, the National Tax Service pointed out that if a resident does not withhold tax through a tax combination and obtains virtual assets from a foreign company as labor income based on an incentive contract, they must fulfill the obligation to declare comprehensive income tax.
A case mentioned in the report shows that Singaporean company B plans to distribute virtual assets to employees of its Korean subsidiary, company C. The employee signed an incentive contract with Singaporean company B, engaged in blockchain and virtual asset exchange-related work according to its instructions, and received virtual assets as compensation. (Digital Asset) [Odaily Planet Daily]