Government Confirms Crypto Profits Not Taxable in South Korea

South Korea has confirmed that earnings tax can’t be levied on particular person buyers’ income from crypto transactions underneath the present tax regulation. The federal government, nevertheless, is reviewing worldwide traits and the approaches of main international locations to crypto taxation in an effort to amend the present Korean tax regulation to incorporate cryptocurrency.

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Crypto Good points Not Topic to Taxation

The South Korean Ministry of Economic system and Finance, which oversees the nation’s financial coverage, has acknowledged formally that particular person buyers’ crypto buying and selling income can’t be taxed underneath the present tax regulation. Not all capital features from monetary investments are topic to taxation in South Korea, and taxes can’t be imposed on earnings from actions that aren’t explicitly outlined underneath…

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