South Korean: Tax Policy Association Introduce Two-Step Tax on Cryptocurrencies

In South Korea, tax experts assembled and proposed a transaction tax on cryptocurrency before jumping straight to an official income tax. The Korean government to implement a low-level trading tax on cryptocurrency profits before imposing to citizens for transfer of income tax because there is a lack of legal infrastructure to enact transfer taxation. In late 2020, the Korean government is expected to reveal its tax reform plan.

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