Ninjastic
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Re: 🤔 South Korea introduces new tax on cryptocurrency exchanges
by
KingScorpio
on 27/01/2018, 02:44:56 UTC
Quote from: UnusualMouse on January 27, 2018, 01:52:37 AM
Quote from: KingScorpio on January 27, 2018, 01:42:52 AM
Quote from: RothsCoin on January 27, 2018, 01:39:29 AM

South Korea’s government has reportedly imposed a tax on the domestic Cryptocurrency exchanges.

To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.

Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above $20,000 by the end of 2018.

This year is anticipated to be a rough, yet successful year to wise investors in this market.   

RothscoinTeam.

this could lead to two endings, either the exchanges in south korea start to die out, or they simply pay 24.2% of their incomes as tax, which is not much actually.


Actually, that tax rates in S Korea is normal. The S. Korea is known to be the highest taxing government, the 24.2% Income tax is nothing if you are earning a lot from Cryptocurrency.

the problem starts when they start to investigate where the people with those cryptoreturns are cause then no one will like to use those korean exchanges,

but i doubt states will be able to survive with their difficult taxation system the new digital and cryptoeconomic age.

but seriously folks i am questioning myself, since quite a while, how long are you going to evaluate cryptocurrencies in US dollar, i mean what are you going to do when the US dollar evaluation is gone?

regards