CryptoUpdated November 8

South Korea studies a crypto loss carryforward.

South Korea’s tax discussion is not only about when the tax starts. The government also plans to study letting investors carry losses forward for up to three years, so those losses could offset future gains. It is a possibility under review, not an adopted rule. Under the current scheme, the 22% composite rate, including local tax, would apply only to the portion of an individual’s annual gains above 2.5 million Korean won. The loss allowance is still part of the tax design the government plans to work through.

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Coverage started November 8