Ethereum
Tron
Binance
Huobi
Coinbase
Kraken
Bitfinex
Bitstamp
South Korea’s National Tax Service announced yesterday that Korean residents with accounts in foreign crypto exchanges may have to report their holdings for tax purposes starting 2022.
A Korean citizen will be required to pay taxes if the aggregate amount of their account balances in overseas virtual asset businesses exceeds 500 million won, or US$447,900, at the end of each month.
The new tax rule for overseas virtual assets will be applied to crypto holdings starting Jan. 1, 2022, and the tax reporting will be required starting June 2023.
Those in violation of their crypto tax obligation will be subject to a fine of 10-20% of the amount not reported or underreported. If the underreported amount exceeds 5 billion won, or US$4.47 million, the tax dodger could be subject to criminal punishment.
Source:forkast.news
| Coin | Change(%) | Price | Volume (24h) |
|---|---|---|---|
| Bitcoin (BTC) | 3.71 | $72,084.86 | $45.5B |
| Ethereum (ETH) | 3.43 | $4,038.91 | $20.8B |
| XRP (XRP) | 18.52 | $0.727106 | $4.4B |
| Solana (SOL) | 1.58 | $147.242060 | $3.8B |
| Binance Coin (BNB) | -2.22 | $519.52 | $3.0B |
| USD Coin (USDC) | 0.03 | $0.999697 | $2.4B |
| Dogecoin (DOGE) | 0.96 | $0.174374 | $2.1B |
| Shiba Inu (SHIB) | -2.92 | $0.000033 | $1.7B |
| Floki Inu (FLOKI) | -7.67 | $0.000267 | $1.3B |
| Avalanche (AVAX) | 13.16 | $47.596296 | $1.2B |
