A parliamentary subcommittee has passed a revised bill seeking to delay taxing virtual assets, including cryptocurrencies, by a year. 

The taxation subcommittee of the National Assembly's Strategy and Finance Committee passed the bill seeking revisions to the nation’s income tax laws during a session on Monday. 

The bill seeks to postpone the government's plan to impose a 20 percent tax on gains from virtual asset transactions from January 2022 to January 2023.

The bill also aims to raise the lower limit of the assessed value of real estate properties subject to a capital gains tax from the current 900 million won to one-point-two billion won.

The revised bill is set to be approved at a full session of the Strategy and Finance Committee on Tuesday.