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Proposed Law In South Korea Could Implement A 20% Capital Gains Tax On Cryptocurrencies
Summary: South Korea's National Assembly has proposed a bill which could introduce a capital gains tax as high as 20% on cryptocurrencies, according to local outlet NewsWay. The tax would not apply to individuals trading from outside South Korea. The tax would hinge upon cryptocurrencies being classified as products rather than currencies. The proposed amendments argue ...
South Korea's National Assembly has proposed a bill which could introduce a capital gains tax as high as 20% on cryptocurrencies, according to local outlet NewsWay.
The tax would not apply to individuals trading from outside South Korea. The tax would hinge upon cryptocurrencies being classified as products rather than currencies.
The proposed amendments argue that crypto transactions are used less and less for sales purposes but instead being traded as goods with property value.
By Emily Mason
Tags: Capital Gains Tax,South Korea
Link: Proposed Law In South Korea Could Implement A 20% Capital Gains Tax On Cryptocurrencies [Copy]
