South Korea’s newly elected president, Yoon Seok-yeol, has announced that he will push for a deferral of taxation on income from cryptocurrency investments.
South Korea’s cryptocurrency tax was originally set to go into effect in 2022, but it was pushed back to 2023 last December. According to the law, the tax on profits from cryptocurrency investments is 20 percent.
According to E-daily, Yoon guarantees that the cryptocurrency tax law will not go into effect until reasonable legislation is passed to protect consumers. Such a solution could appear by 2024.
Holpop News
Holpop News
South Korea’s new president says he will help delay the introduction of taxes on cryptocurrency
posted on May 4, 2022 by holpop in Blockchain
