There are news circulating around the net that South Korea's government will be collecting a 22 percent corporate tax and a 2.2 percent local income tax from the country's cryptocurrency exchanges.
Yes, agree with you that it is better than ban.
Topic: SOUTH KOREA NOT BANNING CRYPTO NOW - but want 24.2 percent tax? - page 3. (Read 690 times)
January 23, 2018, 10:36:05 PM
January 23, 2018, 10:11:19 PM
Is 24.2 percent the normal tax rate in South Korea? If so, nothing special and people shall be ok with it...
January 23, 2018, 09:55:58 PM
This is true. Cointelegraph is a prostitute posing as a cryptocurrency news website because their services are always for sale lol. Its where all of the scammers go if they want more publicity for their latest scams.
Speaking of scams, check the Bitcoin Ore team, yes Ore, in their website.
http://www.bitcoinore.org/#team
Are those people real? The founder on the left's picture is photoshopped to make his eyes look bigger lol.
Speaking of scams, check the Bitcoin Ore team, yes Ore, in their website.
http://www.bitcoinore.org/#team
Are those people real? The founder on the left's picture is photoshopped to make his eyes look bigger lol.
January 23, 2018, 07:51:16 AM
Good luck enforcing that.
And thank you SINGAPORE for being you.
And thank you SINGAPORE for being you.
Is singapore zero tax on crypto? or lower tax?
Zero for individuals. Zero for businesses not registered in Singapore. But the real plus is virtually no currency controls. You can take as much money into SG or out of SG as you want. The only * is that for cash, you need to declare over 20k SGD, but that is a non issue with crypto as crypto doesn't pass through customs anywhere.
January 23, 2018, 04:48:08 AM
Thats a hell of a percentage for just tax,imaging a businessman making millions or hundred thousand a day or week,imagine how much he would pay in total in each transaction he will be making.Its pretty damn big to be approved and to be requested
January 23, 2018, 04:46:58 AM
i think this is better way than to ban altcoins in this country n this way we can have another way of having transactions regardng to our altcoins to korea.
n this way we can have another way of having transactions regardng to our altcoins to korea.
January 23, 2018, 04:44:31 AM
any truth to this?
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Yes, it's better than ban!
This news give impact to rise price again.
Keep on roll bitcoin
Thanks!
January 23, 2018, 04:42:08 AM
LOL that's robbery, 24.2% that' very big amount if my transaction more that 1 M, that's makes people affraid to do big transaction using bitcoin. but in my opinion this is little good news than banned. I acknowledge that taxes are the ones that have hampered bitcoin development because the government can not levy taxes from bitcoin users so they have to ban bitcoins. but look at it now when they can apply a tax issue to ban bitcoin disappear. but the tax is very large and it is disappointing if it is followed by other countries.
January 23, 2018, 01:47:55 AM
Good luck enforcing that.
And thank you SINGAPORE for being you.
And thank you SINGAPORE for being you.
Is singapore zero tax on crypto? or lower tax?
Zero for individuals. Zero for businesses not registered in Singapore. But the real plus is virtually no currency controls. You can take as much money into SG or out of SG as you want. The only * is that for cash, you need to declare over 20k SGD, but that is a non issue with crypto as crypto doesn't pass through customs anywhere.
January 23, 2018, 12:55:49 AM
Great news that the government will no longer banned bitcoins in South Korea but it's really unfair for them to pay for the high taxes implemented seems like the government is holding the South koreans on the neck right now. I'm just wondering how will the government will going to regulate this one and maybe some South koreans will think to transfer to other neighboring countries with no crypto tax being regulated. Just a thought.
January 23, 2018, 12:42:34 AM
Good news. Maybe it will help the market to move up. I'm so looking forward to when the growth begins. So, it's time for crypto market to capture new ATHs.
January 23, 2018, 12:35:45 AM
They have just taxed themselves into a corner. ^lol^
The ban rumours was just a warning shot over the head of Crypto currency users to force them to accept their high taxes and their strict regulations. Just another corrupt government forcing their will onto their citizens. They are saying, If we cannot stop you, then we will make Bitcoin unappealing to invest in.
The same was tried with the introduction of the BitLicense in New York.
The ban rumours was just a warning shot over the head of Crypto currency users to force them to accept their high taxes and their strict regulations. Just another corrupt government forcing their will onto their citizens. They are saying, If we cannot stop you, then we will make Bitcoin unappealing to invest in.
The same was tried with the introduction of the BitLicense in New York.
January 23, 2018, 12:14:57 AM
I almost want them to ban it, so we dont have to hear about this anymore.
January 23, 2018, 12:11:10 AM
It's good news ended. I think those banning announcement was made by some investor to shaken the market of btc to ensure profit when invest.
It's a business strategy of a business expert.
It's a business strategy of a business expert.
January 22, 2018, 11:31:19 PM
any truth to this?
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
No tax is good on any currency it's bad always bad. I also read a horrible thing that people need to disclose their real name while trading that's so bad, this opens up legal people to catch on you anytime. This is so bad for everyone involved in the transaction, I hope the South Koreans topple this government in fresh elections, close their work and make government reconsider it.
January 22, 2018, 11:30:58 PM
any truth to this?
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Where did you guys think they get 24 percent from? Is it based on how much a crypto user can gain?
January 22, 2018, 11:28:26 PM
what i understood from the past days is that Korea was not planning on banning cryptocurrencies, or trading them. they were planning on closing unregulated exchanges or regulating them. and now this is the regulation they come up with including this tax plan.
and 24% is high but this is the government they chose to accept, they have to deal with the decisions they force upon them now.
and 24% is high but this is the government they chose to accept, they have to deal with the decisions they force upon them now.
January 22, 2018, 11:23:44 PM
any truth to this?
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
seems okay or at least better than a ban?
Sounds like good news??
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
it hurts for korean crypto 24% tax this is a double tax than the original tax fee. This tax is only for local currency in its area. But it's a bad idea that other local exchanger may also be following a 24% tax tax evasion of a local exchanger this is my opinion only. We should notice that the local exchanger pays tax for the government not the crypto users.
Earned by Korean korean users will only be taxed at 24% tax i think based in the principal amount.
the korean crypto users no longer have to accept it rather than bitcoin banning.
24% is really hurt for many of people here, may be not for a big whale because they can be backed by their own money here. The problem here is for people that want to try their luck into crypto which they invest everything but in the end they will pay some 24% tax? This will be ridiculous, unless they can keep on getting profit, may be it is better but traders not always profit everytime. Btw is this even true for 24% tax and is it already fix?
January 22, 2018, 11:22:33 PM
Good new crypto exchanges in S Korea has been legalized.
January 22, 2018, 11:16:53 PM
Stop reading cointelegraph. You can get more accurate bitcoin news from marvel comics.
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