Please change your life!!! Click on the link! http://youtube.com+watch=@3162039724/AyAb
Can you afford this thing?: http://youtube.com+watch=@3162039724/orwTH
Software at the best prices: http://amzn.com@3162039724/f3ANs
Major South Korean cryptocurrency exchange Bithumb has decided to litigate a near $69 million (80 billion won) tax bill levied by the National Tax Service (NTS). According to a report published by The Korea Times on Jan. 16, Bithumb filed a complaint with the NTS, suggesting that the imposed tax bill is groundless given that cryptocurrency is not a legally recognized currency. The South Korean tax tribunal now has to decide whether to grant or dismiss the exchange’s motion within 90 days. NTS imposed a retention tax — an income tax paid to the government by the payer of the income instead of its recipient — which is often withheld or deducted from income in most jurisdictions, according to The Korea Times. As a consequence, Bithumb is expected to pay the bill before giving the remaining income to its customers. An exchange official commented:“We paid the full amount and have since been preparing for arguments. We believe we will be given a chance to clarify our stance in court.”The NTS has claimed that gains withdrawn from accounts held by foreigners are taxable income, and therefore it has a right to impose such a tax. Choi Hwoa-in, an adviser to Financial Supervisory Service reiterated Bithumb’s stance that tax law as it currently stands is not applicable to cryptocurrencies: “Bitcoin under the current law is not an asset. It is clear and simple. . The Ministry of Economy and Finance already made that clear. The NTS pushing ahead with the tax imposition is baseless and groundless, especially since it is still awaiting the ministry opinion on the same matter it sought again.”According to The Korea Times, Choi said that the current case with Bithumb could be a ploy by the NTS to establish grounds for taxing what were previously tax-free gains. She added that, as cryptocurrency trading has grown more common in South Korea, regulators have now likely come to view the subsequent gains as a new source of taxable income. Earlier this month, Cointelegraph reported that a more robust tax framework for cryptocurrencies is currently in the works in South Korea. Indeed, the Ministry of Strategy and Finance has confirmed that it will levy taxes on virtual assets through a tax code revision bill in the future, as imposing income taxes on crypto under current law is not possible:”In the case of a corporation’s virtual currency transaction, all transactions that increase the entity’s net assets are subject to taxation under the current law, so it is taxable, but it is practically impossible to produce tax revenue results by distinguishing only virtual currency transactions.”The nascent nature of digital assets has put many cryptocurrency investors at odds with tax regulators in their respective jurisdictions, as many agencies have failed to issue sufficient or any guidance regarding tax schemes for cryptocurrencies. Furthermore, failure to comply with these labyrinthine and murky tax policies can mean heavy fines for crypto investors. American holders who fail to properly report their crypto earnings and investments could face large penalties and even potential criminal investigation.
All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/bithumb-cryptocurrency-exchange-goes-to-court-over-69m-tax-bill
#tax #cryptocompare #bitcoinetfnews #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange
Bithumb Cryptocurrency Exchange Goes to Court Over $69M Tax Bill: https://www.youtube.com/watch?v=O1eCnkBmvXg
Coinsclone offers Highly Customizable, Readymade Cryptocurrency Exchange Script and Software to Create and Launch a Bithumb Clone Script like Bithumb to your Crypto exchange Platform.
View more information,
Finally, All your Bithump features in one place.
Chat with us on
Whatsapp: 91 9500575285
Skype Id: live:hello_20214
Javier from Bithumb joins me to discuss the Korean crypto scene, and taking Bithumb global!
Disclosure: This is an unpaid interview for a project that was deemed worthy of research time, recording and posting for educational purposes. Furthermore, I currently do not use Bithumb.
LONG AND SHORT BITCOIN ON BYBIT
(please note margin trading is high risk and is only for experienced traders)
HOW TO USE BYBIT https://www.youtube.com/watch?v=dWjNNrBX5ZA
TRADE WITH THE PROS ON ETORO
GET 20% OF TRADING FEES BACK ON BINANCE
GET MY SHIRTS, BEST BITCOIN BOOKS & HARDWARE HERE
BEST BINANCE ALTERNATIVE – KUCOIN
SAVE BIG ON FEES WITH LVL
TAKE YOUR SECURITY SERIOUSLY – GET A HARDWARE WALLET
LEDGER NANO https://www.ledgerwallet.com/r/6877
KNOWLEDGE IS POWER – GET THE BEST RESEARCH IN CRYPTO – SIMETRI – https://simetri.cryptobriefing.com/pro/thecryptolark/
CERTIFIED CRYPTOCURRENCY BROKERAGE
CALEB & BROWN – Brokerage – Trade OTC like the big guys https://bit.ly/2Feq8F6
AUTOMATE YOUR TRADING FOR MAX SUCCESS (10% DISCOUNT ON FIRST PURCHASE USING THIS LINK)
EARN 6% (8% premium) ON YOUR BITCOIN & GET $50 FREE AFTER STAKING 50 MCO
This is the code v4fvb8ee7m
EARN 6.2% COMPOUND INTEREST ON BITCOIN & GET $10 FREE BTC https://app.blockfi.com/signup?ref=thecryptolark
GET THE BRAVE BROWSER AND EARN CRYPTO https://brave.com/wmd925
BOOK HOTELS WITH CRYPTO ON TRAVALA – GET $50 CRYPTO BACK AFTER FIRST BOOKING OVER $100 https://www.travala.com/ref/8RONFR
****Please note that all of the above are referral links and I will receive a small commission if you sign up using any of these links at no extra cost to you. All referrals are for products that I believe in and use personally.
Free Cryptocurrency Course – https://www.thecryptolark.org/
Cryptoholics Anonymous Telegram Chat – https://t.me/thecryptolark
SOCIAL MEDIA – These are my only accounts, beware of scammers!
TELEGRAM HANDLE @cryptolark
BACKGROUND ART BY Josie Bellini – https://josie.io/
PODCAST – find me on I-tunes “Crypto Waves”
E-mail email@example.com with business or event inquiries.
Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money.
This video may contain copyrighted material the use of which is not always specifically authorized by the copyright owner. Such material is made available for research or academic purposes. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this video is distributed without profit, for research and educational purposes.
Thanks for watching; please like, subscribe, and share if you found this useful!
#bitcoin #crypto #ethereum #cryptocurrency #neo #elastos #litecoin #eos #ripple #ontology #monero #stellarlumens #cardano #nem #dash #ethereumclassic #vechain #tezos #zcash #dogecoin
Bithumb Launches Voting Platform to Screen New Cryptocurrencies – Bitcoin News
Major South Korean cryptocurrency exchange Bithumb has beta launched a public voting system for screening new coins to be listed on its exchange. The platform, Pickthumb, aims to boost transparency and fairness in Bithumb’s listing process. Five coins are currently being evaluated with the current v…
#Bithumb #Launches #Voting #Platform #to #Screen #New #Cryptocurrencies #Bitcoin #News
► SUBSCRIBE FOR MORE VIDEOS:
► #BitcoinNews – #AltCoinnews – #cointelegraph – #coindesk – #coinmarketcap
★★★ Thanks for watching! Please leave a like if you enjoyed and tell me what you think in the comments! Thanks ★★★