South Korea is going to tax exchanges again 😅
This time it’s not a tax on earnings, but an education tax.
The premise is that the proposed Digital Asset Act would classify exchanges as financial institutions. Once they’re classified that way, they’ll have to pay education tax under the rules for the financial and insurance industries.
The government has already conveyed this to the heads of various exchanges recently, and some senior officials have also confirmed it publicly.
Exchanges haven’t even officially become financial institutions yet, but the taxman has already come knocking. It just goes to show that, in the government’s eyes, the crypto industry really is a cash cow 😂
$BNC.US
This time it’s not a tax on earnings, but an education tax.
The premise is that the proposed Digital Asset Act would classify exchanges as financial institutions. Once they’re classified that way, they’ll have to pay education tax under the rules for the financial and insurance industries.
The government has already conveyed this to the heads of various exchanges recently, and some senior officials have also confirmed it publicly.
Exchanges haven’t even officially become financial institutions yet, but the taxman has already come knocking. It just goes to show that, in the government’s eyes, the crypto industry really is a cash cow 😂
$BNC.US
