- Legislation is being prepared by the government in Korea to introduce a crypto tax capital gains.
- It is expected to be released in early 2020 according to the Korea Times.
The Korean government is undergoing preparation for legal tools to tax capital gains from the sale of crypto assets.
Specialized legislation to target digital asset deals is expected to arrive from the tax season for 2020.
The Ministry of Economy and Finance is working on building the measure that will become a tax bill from next year. An official from the ministry said:
“Related discussions have been taking place.“The revised bill will be drawn up by the first half of next year.”
The Korean National Assembly has also been working on a crypto taxation bill. An eventual bill would increase the transparency on all parts of the process of trading digital coins. But for sure, Korea will try to tax capital gains from the sale of digital assets.
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