South Korea postpones 20% tax on crypto gains to 2025
Cointelegraph
Published Jul 21, 2022 07:35AM ET
Updated Jul 21, 2022 02:20PM ET
The South Korean government has reportedly postponed the 20% tax crypto gains by two years. The controversial 20% tax on crypto gains was supposed to come into effect from January 1, 2023, but has been deferred to 2025.
The government officials announced their new tax reform plans on Thursday, deferring the crypto tax policy to 2025, citing stagnant market conditions and the time required for the preparation of investor protection measures. The initial plans of imposing an additional 20% tax on crypto gains exceeding 2.5 million won ($1,900) in a one-year period remain unchanged.
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Written By: Cointelegraph
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