Taxation on the income of Crypto Exchanges

Bitcoin Exchange in Korea

The government announced that the South Korean cryptocurrency exchanges had to pay taxes up to 24.2%. As per the existing law, it is identified that corporations earning income beyond 20 billion won have the tax obligation of 22% corporate tax and 2.2 percent local income tax. The crypto exchanges will have to pay their corporate tax by the end of March and local income tax in April.

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