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S Korean Gov’t Might ‘Eventually Raise the White Flag’ on Crypto Tax
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Pressure is growing on the South Korean government to back down over a controversial crypto tax law that will see trading profits over an annual total of USD 2,100 taxed at 20%.
Per the Segye Ilbo, the “dominant feeling” among analysts is that the ruling Democratic Party will try to force through a measure to defer the tax by at least a year in order to avoid risking the ire of younger voters in the run-up to next year’s elections.
As previously reported, the tax is due to come into force on January 1, 2022 – just weeks before South Korea goes to the polls on March 9 to elect its next president.
The same media outlet reported that any move to delay would be “conscious of the voting behavior” of the so-called “2030 generation” – urban-dwelling
Read more on cryptonews.comAbout this in other media
S. Korea's Democratic Party Backs Support for Crypto, Metaverse blockchain.news /2 years ago
Ruling South Korean Party Makes Pro-Crypto Policy U-Turn cryptonews.com /3 years ago
South Korean lawmakers push back against controversial “know-the-sender” rule cointelegraph.com /3 years ago
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