South Korea finalizes its plan to charge 20% tax on crypto gains

posted 3 months ago
The government of South Korea finalized its plan to charge a 20% tax on income generated from cryptocurrency transactions.

The country's amended tax code states: Annual income over $2,000 from crypto trading will be subject to a 20% tax for residents. Any income less than that amount will have no charge. The revised tax code, which is subject parliamentary approval, would come into effect October 1, 2021.

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