South Korea plans to introduce a 20% cry of cryptocurrency


The Government of South Korea plans to charge a twenty-percent tax from all incomes from cryptocurrency operations.

The Ministry of Economy and Finance of the country recently instructed the Tax Department to revise plans related to the taxation of digital assets.

Government sources reported to the local publication Pulse that the final decision was not yet taken, but most likely, the profit from commercial operations with cryptocurrency will be considered other income, and not income from capital transmission.

The planned changes in legislation will allow the South Korean tax service to immediately impose a tax profit from digital assets without requesting information from the Exchange and the calculation of the fair market price cryptocurrency.

Government for more than a month

At the same time, in addition to recent non-resident transactions, inspectors also take into account the operations of past years, so exhibiting huge additional bills exchange. One of the bright examples is Bithumb, which received tax

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