On August 20, the Seoul High Court overturned the first-instance judgment and ruled that Bithumb won the case. The case originated in 2019, when tax authorities imposed a corporate tax of 180 million won (about $134,000) on Bithumb for changing its method of evaluating virtual assets, which was later reduced to about 130 million won.
The 2nd-round Moderation court held that there were no clear accounting regulations at the time, Bithumb chose the "total average method" to evaluate virtual assets legally, and the virtual assets it held should not be regarded as inventory assets, so there was no need to declare a change in the evaluation method.
Bithumb corporate tax case 2nd-round Moderation wins, Seoul High Court overturns 130 million won judgment
2024-08-22 08:08:32
Bithumb 130 million won 97000 US dollars corporate tax suit lawsuit 2nd-round Moderationdesk3cryptocurrencydesktopCrypto News
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