Crypto-Follow logo Crypto-Follow logo
Cryptopolitan 2020-01-20 15:59:01

South Korea crypto tax implementation soon, set at 20percent

South Korea crypto tax implementation is expected to launch soon. The government of South Korean is said to be working on implementing a 20% tax on all income from cryptocurrency. The process which was drawn by the Ministry of Economy and Finance will classify gains from cryptocurrency as other income such as lottery or prize-winning subjected to tax. According to an anonymous government source also, the development points to the government treating income from cryptocurrency trading as “other income”. The finance ministry is yet to finalize its direction but it surely has become more likely for the income from virtual

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer