Coin

<ul class="news-points">
 <li>Reports hint at South Korea’s further postponement of crypto taxation from 2025 to 2028.</li>
 <li>The taxation was initially scheduled in 2021, which saw multiple postponements.</li>
 <li>Key reasons for the delay in taxation include economic instability and the lack of tax infrastructure.</li>
</ul>
South Korea’s plans to tax cryptocurrency gains have faced another setback, with a potential delay <a href="https://www.binance.com/en-IN/square/post/2024-07-15-south-korea-considers-delaying-cryptocurrency-tax-implementation-10811118143730" target="_blank" rel="noopener noreferrer nofollow">pushing implementation</a> as far back as 2028. The revised proposal awaits approval, with the government expected to reveal the estimated date of the crypto investment profit tax implementation later this month.
Taxation on crypto gains has been <a href="https://www.forbesindia.com/article/crypto-made-easy/south-korea-postpones-20-tax-on-crypto-gains-to-2025/78341/1" target="_blank" rel="noopener noreferrer nofollow">postponed multiple times</a> since 2021. The country initially announced the tax proposal in January 2021, with plans for enactment in February. The proposal aimed to levy a 20% tax on crypto investors whose gains exceed 2.5 million won (approximately $1,900) in a year.
While the country initially planned to implement taxation in October 2021, it was later postponed to 2023, citing the presidential election in 2022 and a lack of taxation infrastructure.
Earlier this month, the government announced a <a href="https://coinedition.com/south-korea-delays-crypto-tax-implementation-to-2025/" rel="noopener noreferrer nofollow">further postponement</a> to 2025. South Korea pointed to t…
The post <a href="https://coinedition.com/south-korea-delays-crypto-tax-to-2028-what-investors-need-to-know/" rel="noopener noreferrer nofollow">South Korea Delays Crypto Tax to 2028, What Investors Need to Know</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

South Korea Delays Crypto Tax to 2028, What Investors Need to Know

Coin Edition

Egyéb ezen a dátumon (2024. júl. 15.) megosztott cikkek

Ex-FTX Exposes Silvergate Bank’s Knowledge Of Suspicious Transactions

Crypto Prices Today July 15: BTC Pumps To Break $62K, ETH Above $3,350, Altcoins Soar

Russia Proposes Cryptocurrency Trading for Qualified Investors

Toncoin (TON) Grows Amid Increased Adoption and Market Activity

How Solana flipped Ethereum, Bitcoin in NFT Adoption

Institutional Confidence Soars: Bitcoin ETFs Receive $310M Inflow Amidst Market Recovery

Join our free newsletter for daily crypto updates!