"Gold Inspectorate, Individual Investors Also Subject to 'Coin Tax Evasion Investigation'... Caution Required for Simple Trading"
Summary
- The Gold Inspectorate has announced that it is expanding its virtual asset tax evasion investigation to include individual investors.
- It was revealed that even simple investment activities like simple trading could be subject to investigation.
- To protect virtual asset users, unfair trading activities are planned to be heavily penalized.
The Gold Inspectorate is reportedly expanding its investigation related to virtual asset tax evasion to include individual investors.
According to industry sources on the 2nd, the Gold Inspectorate has recently conducted investigations targeting individual investors suspected of tax evasion. Mr. A, who was investigated by the Gold Inspectorate, explained that his investment activities were simple trading.
Recently, the Gold Inspectorate has been examining the possibility of tax evasion in virtual asset trading patterns, including repetition.
Under the Virtual Asset User Protection Act, penalties for unfair trading activities involving virtual assets include imprisonment for more than one year or a fine ranging from three to five times the profit or loss avoided from the illegal activity.
If the unfairly obtained amount exceeds 5 billion won, the maximum penalty is imposed.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
