RATE Group | South Korea Drafting Legislation To Tax Individual Crypto Profits By Cointelegraph
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South Korea Drafting Legislation To Tax Individual Crypto Profits By Cointelegraph

03 Jan South Korea Drafting Legislation To Tax Individual Crypto Profits By Cointelegraph

Posted at 07:41h in Cryptocurrency News by

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South Korea Drafting Legislation To Tax Individual Crypto Profits

Cryptocurrency and taxation laws are creating a great deal of confusion in South Korea.

On Dec. 30, South Korea’s government stated that under current law, it cannot impose income taxes on individuals’ profits from transactions of cryptocurrency. This, however, contrasts with the National Tax Service’s recent imposition of an 80 billion won ($68.9 million) tax bill on local crypto exchange Bithumb Korea.

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