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]

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