South Korea Delays Proposed Crypto Taxes to 2023
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- South Korea is delaying its proposed crypto tax plans until January 2023.
- Commissioners have decided to postpone the tax until they can classify crypto as financial investment income.
- The government’s plan to create a crypto tax framework is a positive sign for the community.
SOUTH KOREA: Taxes presented previously to be applied this year on cryptocurrency have been delayed. Commissioners in the country have decided to postpone these until January 1, 2023. Until then, they will find a way to classify crypto as financial investment income.
A representative of the ruling party Roh implemented the decision. Originally, the new rules for the taxation of virtual assets should have applied in July. The representative proposed a “partial amendment to the Income Tax Act” which should include various tax deductions. At the same time, the representati...
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Text source: News – CoinQuora – Latest Cryptocurrency and Block
