Cryptocurrency transactions conducted in South Korea and generating income will be subject to tax duties of 20%. The new rules were published by the national ministry of economy and finance.
Therefore, the amendments will only apply to transactions. The tax authorities began to apply the relevant regulation from October 1 of the following year.
“The authorities are committed to modernizing the national tax system to meet changing market conditions.” The priority direction is to update the list of subjects of taxation and types of taxes this year ”, – noted earlier the Minister of Finance Hong Nem-ki.
XRP traders are moving assets to centralized crypto exchanges amid macro hiccups, even as the…
Major cryptocurrency XRP is surging in transaction volume even as its price index hovers around…
The stablecoin market is quietly evolving, as a new report indicates that Circle’s USDC leads…
Cardano (ADA) could be gearing up for an explosive comeback as a potentially bullish cup-and-handle…
New Bitcoin whales now control one-third (33%) of the BTC realized market capitalization held by…
Bloomberg commodity strategist Mike McGlone reiterated his prediction that Bitcoin (BTC) could fall to $10,000, calling the…