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The government of Paju, South Korea, has warned that citizens who owe taxes will sell their cryptocurrency holdings if they do not pay their debts
The Paju municipal government in Gyeonggi Province, South Korea, has announced plans to seize and sell cryptocurrencies held by citizens who owe taxes. On November 18, local media Yonhap reported that Paju city officials have issued notices to 17 people with a total of 124 million won, or about $88,600. The city warned these taxpayers that their crypto assets on the exchange will be confiscated and sold if their debts are not paid by the end of November.
2024-11-18 09:13:41
South Korea's Paju City Seizes 100 million Korean Won Local Tax Debt by Seizing Virtual Assets
The city of Paju, South Korea, has collected 100 million won ($72,000) of local tax arrears by seizing taxpayers' virtual assets. Seizure of virtual assets is an aggressive tax collection measure that targets people who can afford to pay but hide virtual assets for willful delinquency.
2024-07-29 08:10:47
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