New rules could permit Korean gov’t to seize tax evaders’ crypto
Cointelegraph
Published Jul 26, 2021 05:02AM ET
Updated Jul 26, 2021 06:40AM ET
South Korean legislators propose to revise tax codes so that tax authorities would be able to confiscate tax evaders’ crypto assets directly from their digital wallets.
As per a report published on July 26, the proposal forms part of a wider, annual review of the country’s tax system. This year, faced with rising welfare costs to help sustain an increasingly elderly population, legislators are looking to amend a total of 16 existing tax codes.
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Written By: Cointelegraph
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