They’re eyeing a tax on crypto exchanges
The South Korean government is weighing
whether to levy an education tax on crypto exchanges
First, one thing needs to be clear: this is only on the table
if the Digital Asset Basic Act classifies exchanges as part of the financial and insurance industry
For now, they’re still classified under information and communications
so this tax doesn’t apply to them yet
Banks and securities firms pay based on operating revenue
at roughly 0.5% to 1% starting this year
By a rough estimate, the biggest platforms could owe tens of billions of won
Don’t confuse this with the income tax delay
That applies to users; this would apply to platforms—and it’s still under discussion
There’s a price to pay for getting into crypto
$BTC
#韩国考虑对加密交易所征教育税 $BTC
The South Korean government is weighing
whether to levy an education tax on crypto exchanges
First, one thing needs to be clear: this is only on the table
if the Digital Asset Basic Act classifies exchanges as part of the financial and insurance industry
For now, they’re still classified under information and communications
so this tax doesn’t apply to them yet
Banks and securities firms pay based on operating revenue
at roughly 0.5% to 1% starting this year
By a rough estimate, the biggest platforms could owe tens of billions of won
Don’t confuse this with the income tax delay
That applies to users; this would apply to platforms—and it’s still under discussion
There’s a price to pay for getting into crypto
$BTC
#韩国考虑对加密交易所征教育税 $BTC
