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S. Korea to tax cryptocurrency gains at 20%

2020-07-22 4 Dailymotion

내년 10월부터 비트코인 소득에도 20% 세금 부과<br /><br />And starting next year, an annual income of more than 2-thousand dollars from crypto trading will be subject to a 20-percent tax in South Korea.<br />Any income less than that amount will have no charge.<br />The finance ministry explained that other countries like the U.S. have already been taxing crypto, viewing it as securities like stocks.<br />The revised tax code, which is subject to parliamentary approval, would come into effect from October 1st 2021.<br />The rule will affect people in other countries as well... if they use cryptocurrency exchanges based in Korea because the exchanges will be responsible for witholding taxes.<br />

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