Tag: tax
South Korea’s taxman keeps circling crypto – airdrops look to be the next target
South Korea’s 5 million cryptocurrency investors were up in arms last year when the government considered slapping a 20% tax on crypto profits, until...
South Korea to put crypto taxation move on hold
Cryptocurrency tax break extension being considered by South Korea
South Korean news outlet, Hankook Ilbo, reported that the Presidential Transition Committee of Seok-Yoel is pushing...
Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS
Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts
South Korea’s National Tax Service (NTS) recently announced that starting in 2022, digital assets that are...
IN SOUTH KOREA, MIXED MESSAGES ABOUT CRYPTOCURRENCY TAX POLICIES ARE CAUSING UNCERTAINTY
The government’s waffling on the crypto tax, which is due to take effect in 2022, has generated a tangle of contradictory stories that even...
South Korea Plans 20% Crypto-Tax From 2022, Will Exclude NFTs as Taxable
The country’s crypto tax rules that had been previously proposed have been accepted and will go into effect in 2022. As of now, non-fungible...
South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass Taxation
Evaders Hid a Total of $32.24 Million in Assets
Per the Korea Herald, the National Tax Service of South Korea (NTS) identified 2,416 individuals who...
South Korea approves delaying crypto tax rule to January 2022
South Korea will enforce a 20% tax on gains from crypto trading activities that exceed a $2,000 threshold starting from January 2022.
The Yonhap News...
South Korea’s blockchain lobby calls for suspension of crypto-tax plans
As per the Special Reporting Act, income tax laws will be applicable to cryptocurrency ownership in South Korea, as of October 2021. However, the...
All eyes on $67.1 million Bithumb tax dispute
Market participants and industry watchers are paying attention to whether the Tax Tribunal will find for Bithumb in a suit it filed to nullify...
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Ruling and Opposition Parties Agree on Two-Year Delay for Virtual Asset...
The ruling and opposition parties in South Korea have agreed to postpone the taxation on virtual asset income by two years. With the Democratic...
