South Korea, which extended the tax plan to be taken from crypto money investors until 2023 with a statement made last December, announced that it has postponed the crypto money tax until 2025 with a statement it made today.
According to the tax reform plan announced by government officials on Thursday, July 21, the tax application on crypto earnings in South Korea has been postponed for two more years and extended until 2025.
According to the tax reform plan, taxation of income from “transfer or lending of virtual assets” as well as taxation of income from virtual assets deferred until 2025. However, in the annual 2.5 million KRW Crypto earnings in excess of $1,900 To apply 20% additional tax No changes were made to the plans.
South Korean blockchain advocate Harold Kim has previously He told CoinDesk that the threshold level of taxes planned to be levied on earnings from local exchanges is quite high, and therefore unfairly higher. can target small crypto investors he had said.
South Korean authorities had previously delayed plans to tax virtual assets until 2023 in December.