Seoul to tax crypto capital gains as planned - minister

Tuesday, 27. April 2021 09:48

South Korea will not diverge from its plan to begin taxing capital gains from cryptocurrencies starting next year, regardless of the traders' calls to put the decision on hold, the country's Finance Minister Hong Nam-ki stated on Tuesday.

Seoul intends to impose a 20% tax on gains from virtual assets transactions, while investors in cryptos requested for same taxation standards as those for stock transactions.

"When capital gains are generated from transactions of virtual assets, we cannot help imposing the tax to promote taxation equality," Hong said to the press, as translated by Yonhap.

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