South Korea's Ministry of Planning and Finance: Cryptocurrencies are not included in the current tax law, but it is intended to be taxed by amending the tax law

According to information obtained by Coindesk Korea through a member of the Planning and Finance Committee of the National Assembly of Korea (Liberal Korean Party) on the 30th, the Ministry of Planning and Finance of the Republic of Korea considers that the income of individual cryptocurrency transactions in the current tax law is not an income item listed in the income tax law, Belonging to taxation. It is reported that this information is about the current tax law whether the tax on cryptocurrencies can be taxed and the Ministry of Planning and Finance's questions and answers to the congressman's tax performance on crypto assets. The Ministry of Planning and Finance stated that the taxation items in the current tax law do not include cryptocurrencies. In addition, cryptocurrencies obtained through airdrops are not applicable to the income tax law, but the Ministry of Planning and Finance ’s position is that it plans to tax cryptocurrencies by amending the tax law .
Although South Korea's Ministry of Planning and Finance currently holds such a position, the South Korean Internal Revenue Service recently imposed a huge tax on a crypto exchange. Shareholders of Bithumb Korea's operator Bithumb Holdings said on the 27th that the State Administration of Taxation has imposed a total of more than 80 billion won (including local taxes) on Bithumb Korea's withholding taxes on foreign customers.