South Korea wants to create an advantage for blockchain startup companies, they are making plans to review their current legislation for taxing these startup companies. We hope to see more advantageous steps like these.
On Wednesday, July 18th, 2018, ministers of South Korea came together to discuss tax legislation. They proposed tax cut logistics with various sizes of companies with incentives for the company to put money back into the growth of the blockchain industry.
They will be meeting again on July 26th to discuss the new blockchain business tax policy, and the changes are expected to take place in the first quarter of 2019. South Korea continues to be a pioneer in blockchain & cryptocurrency related legislation.
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