South Korea Crypto Gain Tax Implementation Pushed To 2023

South Korea crypto gain tax implementation pushed to 2023. The nation’s Ministry of Economy and Finance announced Wednesday that a legal amendment was finalised after tax laws were updated in 2020, according to a study by AsiaToday.

According to a legislative notice, the amendment is set to be implemented within a month, pending final meetings by vice ministers and South Korea’s Cabinet.

The Ministry said that cryptocurrency users will pay a 20% tax for gains over 50 million South Korean won (US$45,685). The tax rate will rise to 25% if the gains are over 300 million won ($273,950).

[image: Cait Ellis]

bitcoin
Bitcoin (BTC) $ 22,965.15 0.80%
ethereum
Ethereum (ETH) $ 1,596.30 1.44%
tether
Tether (USDT) $ 0.999773 0.04%
usd-coin
USD Coin (USDC) $ 1.00 0.08%
bnb
BNB (BNB) $ 303.69 1.63%
xrp
XRP (XRP) $ 0.409370 1.68%
binance-usd
Binance USD (BUSD) $ 1.00 0.22%
cardano
Cardano (ADA) $ 0.378625 0.10%
dogecoin
Dogecoin (DOGE) $ 0.086168 0.91%
matic-network
Polygon (MATIC) $ 1.09 9.57%
S&P 500  ^GSPC 
$4,060.43  $44.21  (1.10%)
Dow Jones Industrial Average  ^DJI 
$33,949.41  $205.57  (0.61%)
NASDAQ Composite  ^IXIC 
$11,512.41  $199.06  (1.76%)
Russell 2000  ^RUT 
$1,903.06  $12.75  (0.67%)
Crude Oil Mar 23  F*CL.NYM 
$81.28  $0.2700  (0.33%)
   
$0.0000  $0.0000  (0.00%)