[Photo] Starting Next Year, Taxes Will Be Imposed on Bitcoin Earnings Over 2.5 Million Won

On the 22nd, the Bitcoin price was displayed on the electronic board 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, after subtracting 2.5 million won, the remaining 7.5 million won will be taxed at 20%, resulting in a tax payment of 1.5 million won. / Reporter Kim Hyun-min kimhyun81@

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