cryptocurrency taxation Archives

Yoon Pledges to Ease Tax Burden on Cryptocurrency Investment Profits

SEOUL, Jan. 19 (Korea Bizwire) — Main opposition presidential candidate Yoon Suk-yeol pledged Wednesday to ease the tax burden on profits from cryptocurrency investments by raising the threshold from the current 2.5 million won (US$2,097) to 50 million won. Yoon of the conservative People Power Party announced the pledge at the party’s headquarters, saying he [...]

S. Korea to Levy 20 pct Tax on Cryptocurrency Transactions Starting Next Year as Planned

SEOUL, May 28 (Korea Bizwire) — South Korea plans to impose a 20 percent income tax on capital gains from cryptocurrency transactions starting next year as planned, the government announced Friday, despite growing investor calls for delaying the taxation plan. The government announced the plan after discussing the matter during a vice-ministerial interagency meeting chaired [...]