Showing results for tags 'tax'. - CryptoTalk.Org Jump to content

Search the Community

Showing results for tags 'tax'.

The search index is currently processing. Current results may not be complete.


More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Crypto
    • About Forum
    • For Beginners
    • Chia Mining
    • Crypto World
    • Coins / Tokens Talk
    • NFTs & collections
    • Bounties
    • Exchanges
    • Defi
    • Trading
    • Marketplace
    • ICO/IEO's
    • Mobile Apps
    • Wallets
    • Tutorials
    • Mining
    • Services
    • Jobs
    • Artificial Intelligence (AI)
    • Referral Links
    • Gambling/HYIP's/FreeCoins
    • Off Topic
  • Russian
    • О Форуме
    • Новички
    • Chia Майнинг
    • Крипто Мир
    • Монеты / Токены
    • NFT & коллекции
    • Баунти кампании
    • Биржи криптовалют
    • Обменники
    • Defi
    • Трейдинг
    • ICO/IEO's
    • Мобильные Приложения
    • Кошельки
    • Инструкции
    • Майнинг
    • Услуги
    • Работа
    • Искусственный интеллект (ИИ)
    • Игры / Хайпы / Краны
    • Купить / Продать
    • Реферальный раздел
    • Оффтопик

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


BTC


ETH

Found 1 result

  1. South Korea reportedly imposed a 20% tax on cryptocurrency trading profits after an amendment of their tax law was announced today. The limit is set at $2000 (2,5 million Won). Traders with profits more than this amount will be taxed from October 1st, 2021. Any profits less than $2000 won't be charged. According to the same reports, the tax applies to everyone trading on South Korean exchanges, even if they are not Korean nationals or not based in Korea. The exchanges will deduct the tax from trading transactions that end with profit and pay the amount to the Korean tax services. South Korea has already recognized Bitcoin and other digital currencies as a form of money but with this move, they create a legal framework to tax cryptocurrency trading in parallel with the US and other countries legislation. A 20% taxation is extreme and can result in less trading volumes from the South Korean Exchanges. The only positive I see from this decision is that the new tax law will be activated after 14 months, so the effect in Korean trading volumes won't be immediate. The news was met without any major price changes for Bitcoin and other cryptocurrencies but certainly, this is not a crypto favorable regulation coming from one of the world's major economies. In the past crypto taxation in the US caused many traders to pay more than they earned and reduced trading and interest in cryptocurrencies. Meanwhile, the Korean government decided to reduce the Stock Exchange transaction fees from 0,25% to 0,15% in 2023 which will favor Korean company stocks.
×
×
  • Create New...