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[AudraMiller]

With the integration of cryptocurrencies into many countries there is a lot of talk surrounding the tax implications and the rates that these coins will be taxed at. Fortunately, for those that are in south korea, there is a bit of relief in this sense, s the regulations show that they will only be taxed on their coins starting from 2022 (net year). This gives them the rest of the year to trade tax free. Do you think that this is a good idea?

 

[Wisdom01]

Its a good one for them, because we don't know the kind of tax the government might introduce ,so the tax free idea is a very good plans too

 

[AudraMiller]

Its a good one for them, because we don't know the kind of tax the government might introduce ,so the tax free idea is a very good plans too

Exactly, and it will not deter people in that country away from crypto. However the concern also comes in if they decide to dump all their crypto at the end of the year due to taxes next year. This could affect the market as well.

 

[Wisdom01]

Exactly, and it will not deter people in that country away from crypto. However the concern also comes in if they decide to dump all their crypto at the end of the year due to taxes next year. This could affect the market as well.

They cant do that because if they dump people would buy the dump and meanwhile i think the tax should be very low so that people don't be bothered about it

 

[Niftyicon]

At least the government has given them some time to get used to the idea of taxation on Cryptocurrencies. Until then, they should maximize their tax free profits.

 

[Wisdom01]

At least the government has given them some time to get used to the idea of taxation on Cryptocurrencies. Until then, they should maximize their tax free profits.

Yeah the government might be using that opportunity to still show their little support for crypto currency ,so they have reason for giving free year before taxing crypto users

 

[silentwatch]

It is just a delay.
Not a good news for trader.
Perhaps they just need more time to fixed the tax law and then, next year will ready to apply it. Its only a matter of time before every trader will get taxed by them.
Damn goverment, they just taxed everything..

 

[Niftyicon]

It is just a delay.
Not a good news for trader.
Perhaps they just need more time to fixed the tax law and then, next year will ready to apply it. Its only a matter of time before every trader will get taxed by them.
Damn goverment, they just taxed everything..

Not good news, right? Because the tax would be implemented just postponed for now. We can only hope that the rates wouldn't be too high.

 

[Wisdom01]

It is just a delay.
Not a good news for trader.
Perhaps they just need more time to fixed the tax law and then, next year will ready to apply it. Its only a matter of time before every trader will get taxed by them.
Damn goverment, they just taxed everything..

They are taxing everything because they are basically into revenue generation and since people no longer store their asset in the bank for them to tax,they move to another means