🇰🇷 SOUTH KOREA WANTS TO DELAY CRYPTO TAX AGAIN
On November 4, the ruling party officially proposed postponing the launch of a tax on cryptocurrency income.
What we know:
1. 📅 The tax is currently set to take effect on January 1, 2027.
2. 💸 The rate is 22% on annual profits exceeding 2.5 million won (about $1,880).
3. 🏛 They want to first pass a basic law on digital assets and give exchanges time to prepare.
But there’s a catch: the tax has not yet been canceled or postponed. This is the party’s proposal, and a decision still needs to be made.
Source: Yonhap, November 4.
#Crypto #SouthKorea
On November 4, the ruling party officially proposed postponing the launch of a tax on cryptocurrency income.
What we know:
1. 📅 The tax is currently set to take effect on January 1, 2027.
2. 💸 The rate is 22% on annual profits exceeding 2.5 million won (about $1,880).
3. 🏛 They want to first pass a basic law on digital assets and give exchanges time to prepare.
But there’s a catch: the tax has not yet been canceled or postponed. This is the party’s proposal, and a decision still needs to be made.
Source: Yonhap, November 4.
#Crypto #SouthKorea