South Korea plans to postpone crypto taxation by one year or increase the tax threshold to 50 million won - Aliens: AI Crypto News & Markets Updates

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South Korea plans to postpone crypto taxation by one year or increase the tax threshold to 50 million won

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Aliens

Sun, Nov 14, 2021

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According to the Korea Central Daily News, the South Korean government and the National Assembly stated that the National Assembly and the Taxation Subcommittee of the Finance Committee would discuss ways to reduce the tax burden of virtual assets on the 15th. As a result, measures will likely be taken by the end of the year to delay taxation of virtual assets like cryptocurrency for one year or to increase the tax threshold from 2.5 million won (approximately US$2,118) to 50 million won (about US$42,000).

Source: The JoongAng

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