Topic: South Korea untaxing Investor's Profits - page 2. (Read 300 times)
It's nice that South Korea is doing it, many crypto users tries to hide their earnings and sometime do illegal transactions in area that accept crypto due to tax issues that they want to run to, but since South Korea accepting it tax free then no worries for South Korea investors whether they earn high from their investments. Wish they will be followed by other countries.
I personally believe that once a modernized and legal structure is put into place, where everyone knows exactly what they are doing, people can then decide how and where to implement a crypto strategy as part of their investment portfolio. This is not just for the South Koreans, but for everyone residing in any country that is looking into this niche financial market. I think, either way, the South Koreans are deeply rooted into crypto and the Blockchain and I don't see them leaving it any time soon. Not unless there was some complete blanket ban on cryptos in their country. I think the South Koreans are quite relaxed with their legislation and most probably want to make sure they can abide by it and still profit.
Its good news for South Korean investors then. Many may benefit to it and by incorporating it to crypto currencies will definitely make it more interesting. If they are recognizing crypto then most likely they're considering it as legal medium of exchange.
This untaxing is the 3rd reason I see why the price goes up suddenly today, so far this is way close to it unlike the Iran bombing. When it was announce that the government was about to take tax from crypto investors in South Korea the price also drop. Its not final since the government looks at the approach of some other countries into taxing BTC holders. What their government could come up later will still affect the price and this is to be watched out .
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
@DreamStage this news should have a positive impact on bitcoin prices, because South Korea has a big crypto community which became inactive due to the various regulations imposed on it by their government. It’s also pertinent to note that if South Korea’s government decides to tax crypto’s income, then they’ll be compelled to accept it as a legal tender which will further fuel up bitcoin prices.
https://www.investopedia.com/news/why-south-korea-so-important-bitcoin-prices/
@the bolded is a significant part that most countries are still confused about but at the same time we have seen countries find a way around it by likening bitcoin or any profit from crypto related activities to mean commodity just like someone trading in silver or gold among others but they are not legal tender as well. The crux of the matter is whether they would be subjected to Income Tax because income tax classsification would be the reason why they might struggle with not making it legal tender but any other form of tax like Capital Gains Tax or Value Added Tax, Carbon Tax etc can be an alternative for them and they being able to still achieve their objective of revenue generation.
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
@DreamStage this news should have a positive impact on bitcoin prices, because South Korea has a big crypto community which became inactive due to the various regulations imposed on it by their government. It’s also pertinent to note that if South Korea’s government decides to tax crypto’s income, then they’ll be compelled to accept it as a legal tender which will further fuel up bitcoin prices.
https://www.investopedia.com/news/why-south-korea-so-important-bitcoin-prices/
Agreed, this is some welcome news. Still hoping to see a little bit better outlook this year for Korean investors. I would love for the government to finally give it a little more recognition.
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
@DreamStage this news should have a positive impact on bitcoin prices, because South Korea has a big crypto community which became inactive due to the various regulations imposed on it by their government. It’s also pertinent to note that if South Korea’s government decides to tax crypto’s income, then they’ll be compelled to accept it as a legal tender which will further fuel up bitcoin prices.
https://www.investopedia.com/news/why-south-korea-so-important-bitcoin-prices/
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
Full Source here
This is such good news for South Korean Investors being concerned and conservative on their investments for their future assets.
It could be one of the most important news thus boosting Bitcoin's price a little bit since yesterday's small drop ($6.800 ~ $7.300)
Altough it's only a temporary implementation as the government is thinking of an upcoming law to legalize it and so taxing will be imposed.
Do you think it will be good for South Korean Investors or it will make those leave as soon the law hits them?
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