South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies
Cointelegraph
Published Jan 20, 2020 03:30AM ET
Updated Jan 20, 2020 05:02AM ET
South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies
South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions.
According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptocurrency taxation. The Korea Times cited an anonymous official who reportedly said that the ministry has not finalized its plan, but noted that the government may impose a 20% tax on crypto income.
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Written By: Cointelegraph
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