South Korea considering imposing 20% tax on cryptocurrencies | The Edge Markets


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I am certain that Bithumb would not have done a prior deduction of the withholding tax from its overseas customers. 

Now that the tax authorities are demanding $69.2 million in withholding tax, Bithumb must be in a dilemma as they would find it difficult to recover a large part of it from its overseas clients. If they are eventually made to pay it, it may wipe out all their profits. 

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