Tax Loophole Closing For South Korean Cryptocurrency Exchanges

The South Korean government is working on how to tax cryptocurrency exchanges. The Korea Times quoted an official of the Ministry of Strategy and Finance revealing on Monday, "Virtual money exchanges will have to pay taxes. But we have yet to decide the exact tax rates as we are in talks with the National Tax Agency." Virtual currency exchanges should pay the corporate tax on income earned last year by the end of March and the local income tax by the end of April. What do you think of the Korean government taxing cryptocurrency exchanges? Let us know in the comments section below.
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