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Crypto tax in South Korea is ‘inevitable’ in 2022, says minister

April 27, 2021. Summarized by summa-bot.

Compression ratio: 32.4%. 1 min read.

South Korea’s finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading in 2022.

Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year.

As previously reported, South Korean lawmakers initially discussed a 20% capital gains on crypto trading in July 2020, proposing that any annual gains of more than 2. 5 million won ($2,200) would be subject to the tax starting October 2020.

by summa-bot

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