Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

South Korea delayed its 20% cryptocurrency tax by two years

South Korea delayed its 20% cryptocurrency tax by two years

Profits from crypto assets were supposed to be taxed at a rate of 20% starting on January 1, 2023. However, Ko’s statement moves that date to January 1, 2025.
South Korea had planned to put a 20% tax on cryptocurrencies starting in 2022, but investors were upset about the idea and pushed it back to 2023.

The start date for a 20% tax on stock trading gains over 50 million Korean won (US$38,624.95), which was supposed to be 2023, has also been moved to 2025.

Ko’s statement was part of President Yoon Suk-new yeol’s economic strategy plan, which said that the crypto tax would happen if the right market infrastructure was in place.
The plan is that the “Digital Assets Basic Act” will control how cryptocurrencies are made and listed.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. 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.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *