[Photo] Tax Imposition on Virtual Asset Transactions Starting Next Year

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 the transfer or lending of virtual assets such as Bitcoin. The basic deduction amount is 2.5 million won. For example, if the profit is 10 million won, the tax to be paid is 1.5 million won, which is 20% of the remaining 7.5 million won after deducting 2.5 million won./Reporter Kim Hyun-min kimhyun81@

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