Korea to Tax Inherited, Gifted Crypto Starting Next Year: Report

Korea to Tax Inherited, Gifted Crypto Starting Next Year: Report
South Korea will begin taxing inherited or gifted crypto starting in 2022, according to a report by KBS News.While the country’s plan to tax income from virtual assets has been postponed until 2023, users will be required to pay a levy on assets that are inherited or donated.The country’s tax authority announced Tuesday that it plans to evaluate the value of crypto assets across four service providers – Dunamu, Bithumb Korea, Korbit and Coinone – to determine the average price of the crypto the month before and after it is received.The National Tax Service will provide an “average daily price…