Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies

Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies

South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets to Dodge Taxes The National Tax Service (NTS) of South Korea intends to take severe actions against tax evasion practices relying on virtual assets, such as cryptocurrencies, and platforms operating with....


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