South Korea proposes gradual tax imposition on cryptocurrency trading

clock • 1 min read

The South Korean government is proposing a trading tax on cryptocurrencies, as part of its tax reform plan for 2020 due to be announced later this year. The Korean Taxation Policy Association (KTPA), a consultancy body that advises the government, has proposed that profits earned from cryptocurrency trading should be subject to transfer income taxation. This approach is in contrast to countries such as the United States, which view cryptocurrency as a form of property, and tax it accordingly. South Korea is likely to introduce gradual tax levying from 2021, yet it's not clear wheth...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.