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South Korea Preparing To Make Amendment To Existing Income Tax Act Taxing Profitable Crypto Sales
Summary: Per reports from E Daily and Decenter, the Ministry of Economy and Finance of South Korea is preparing to make an amendment to the existing Income Tax Act that will include clauses about taxing profitable cryptocurrency sales, as well as the profits of crypto mining projects.The media outlets quote an official from the ministry as ...
Per reports from E Daily and Decenter, the Ministry of Economy and Finance of South Korea is preparing to make an amendment to the existing Income Tax Act that will include clauses about taxing profitable cryptocurrency sales, as well as the profits of crypto mining projects.
The media outlets quote an official from the ministry as saying, "We are looking into ways to impose capital gains tax or other forms of income tax on the profits earned by both domestic and foreign investors using cryptocurrencies." The ministry says its proposed amendment will be ready by July and submitted to parliament in September.
Tracy Chen
Tags: South Korea
Link: South Korea Preparing To Make Amendment To Existing Income Tax Act Taxing Profitable Crypto Sales [Copy]
