“South Korean cryptocurrency exchanges will this year need to pay 22% corporate and 2.2% local income taxes on last year’s earnings by the end of March and April respectively, if they had an annual income of over 20 billion won ($18.8 million) during 2016. On Sunday, Yonhap quoted another official as saying cryptocurrency exchanges would soon be required to share users’ transaction data with banks—another move that would help the authorities collect tax. South Korea’s ongoing cryptocurrency crackdown has been one of the prime causes of bitcoin’s recent volatility. Last month, the government instituted real-name policies for virtual-currency traders and banned investors from opening new accounts.”
Read more: http://fortune.com/2018/01/22/south-korea-bitcoin-exchange-tax/
Tip Freedomwat.ch Staff with Bitcoin