Korea’s Jeju City to Seize Crypto of Alleged Tax Evaders

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Tax officials in Jeju City, the capital of the South Korean island province of Jeju, have reportedly started the process of freezing and seizing the crypto of those it believes to be dodging tax requirements. 

The move is part of a broader operation that saw authorities investigate 2,962 individuals in arrears for a total of 19.7 billion won ($14.2 million), to confirm if they had crypto holdings that could be seized to settle the outstanding balance owed, according to a report on Saturday by local media outlet Newsis.

During the investigation, tax…



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Korea’s Jeju City to Seize Crypto of Alleged Tax Evaders


Tax officials in Jeju City, the capital of the South Korean island province of Jeju, have reportedly started the process of freezing and seizing the crypto of those it believes to be dodging tax requirements. 

The move is part of a broader operation that saw authorities investigate 2,962 individuals in arrears for a total of 19.7 billion won ($14.2 million), to confirm if they had crypto holdings that could be seized to settle the outstanding balance owed, according to a report on Saturday by local media outlet Newsis.

During the investigation, tax…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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