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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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