[Photo] Starting Next Year, 20% Tax on Bitcoin Earnings Will Be Imposed

On the 22nd, the Bitcoin price was displayed on the electronic billboard at the Upbit Lounge, a cryptocurrency exchange in Gangnam-gu, Seoul. Starting next year, the government will impose a separate tax rate of 20% on income generated from transferring or lending virtual assets such as Bitcoin. The basic deduction amount is 2.5 million won. For example, if the profit is 10 million won, you must pay tax on 7.5 million won, which is 20% of the amount after deducting 2.5 million won, resulting in a tax payment of 1.5 million won. / Reporter Kim Hyun-min kimhyun81@

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