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South Korean To Impose Cryptocurrency Tax From October 1, 2021
Summary: Per a report by JoongAng Ilbo on August 25, the State Council of South Korea has confirmed 16 amendment bills of taxation laws that are scheduled to be submitted to the National Assembly of South Korea on September 3. The amendment bills specified that taxpayers will be charged a 20% tax for income generated from ...
Per a report by JoongAng Ilbo on August 25, the State Council of South Korea has confirmed 16 amendment bills of taxation laws that are scheduled to be submitted to the National Assembly of South Korea on September 3.
The amendment bills specified that taxpayers will be charged a 20% tax for income generated from cryptocurrency trading, only when the annual profit is no less than 2.5 mln won, commencing on October 1 UTC, 2021. As previously reported, the Ministry of Economy and Finance issued its plan to amend taxation in 2020, in which this cryptocurrency income tax of 20% was mentioned.
Tracy Chen
Tags: South Korean
Link: South Korean To Impose Cryptocurrency Tax From October 1, 2021 [Copy]
