According to Deep Tide TechFlow news on July 9, South Korean media Digital Asset reported that the National Tax Service of South Korea has clearly stated that residents must also declare comprehensive income tax for virtual assets obtained from overseas companies in the form of labor income.

In March of this year, the National Taxation Bureau responded to relevant inquiries, stating that if residents receive virtual assets from foreign companies as overseas labor income based on separate incentive contracts, and have not undergone withholding tax through a tax combination, they are obligated to file a comprehensive income tax determination.

This case involves Singapore Company B's plan to distribute virtual assets to employees of its South Korean subsidiary, Company C. The employee signs an incentive contract directly with Singapore Company B, engaging in blockchain and virtual asset exchange-related work as instructed by Company B, and receives virtual assets as compensation.