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South Korea Finalizes 20% Income Tax Rate From Cryptocurrencies

South Korea finalizes a 20% income tax generated from crypto trading as the government announced which we are reading more in the upcoming cryptocurrency news. The government of South Korea finalizes the 20% tax rate from crypto trading after the Tax Development review committee meeting on July 22 when the Ministry of Economy and Finance published the reviewed tax code and creating the new rules. In the section “Taxation on Virtual Asset Transaction Income” the ministry showed the new rules with a note of both personal and foreign corporations’ virtual assets making them nontaxable. The government states that introducing taxation…

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