Home
News
- The Deputy Prime Minister and Minister of Strategy and Finance of South Korea, Hong Nam-ki stated today that the ministry is planning to impose a tax on cryptocurrency.
- However, the details pertaining to this proposal will be disclosed next month.
- Mr. Hong expressed his views while answering the question raised by the Democratic Party leader Kim Ju-young.
The Deputy Prime Minister and Minister of Strategy and Finance of South Korea, Hong Nam-ki stated today that the ministry is planning to impose a tax on cryptocurrency. While attending the general meeting of the National Assembly’s Planning and Finance Committee Mr. Hong kept his point.
The details will be announced next month
However, the details pertaining to this proposal will be disclosed next month. Mr. Hong expressed his views while answering the question raised by the Democratic Party leader Kim Ju-young. About the taxation of cryptocurrency.
Further, the Deputy Prime Minister added that the ministry has been working to launch a new tax system to match the changing situations. While preparing a tax reform plan, the ministry is also working on the new tax system for several matters and tax categories.
Besides this, he explained that the ministry of Korea is effectively participating in conversations on the inconvenience of digital tax in the Organization for Economic Cooperation and Development (OECD) or 20 significant nations (G20).
The digital tax may increase South Korea’s tax revenue
Indeed, Korea imposed a digital tax on tax assessment of other foreign organizations. Mr. Hong added, these kinds of matters usually come. Yet, there is no issue that our organization needs to give taxation rights to other nations.
Furthermore, he notified that he is participating in the tax debate by harmonizing the national interests. He will take part in the aspect of making sure about and keeping up the national interests as much as could reasonably be expected.
Over past years, the prime coins such as Bitcoin and Ethereum have been famed among the South Korean investors. That believes in making quick money.
