[2017-10-15] South Korea Prepares to Tax Bitcoin Use

[tyz]

South Korea Prepares to Tax Bitcoin Use

South Korea is preparing to tax bitcoin use after the cryptocurrency’s trading volume skyrocketed past that of Kosdaq. Han Seung-hee, the commissioner of the country’s National Tax Service, told lawmakers this weekend that the issue of how to best tax cryptocurrencies is being discussed, including the areas of capital gains tax, the VAT, and gift tax.

https://news.bitcoin.com/south-korea-tax-bitcoin-use/

[Spaffin]

If only the tax burden in South Korea does not displace the crypto currency from this country. The profit tax on operations with crypto currency is permissible, however, within reasonable limits. It seems that now other countries will follow Russia, China and others to introduce such a tax.