CLOSE
  • Authors

Suggested:

COINRSS

Bithumb wins second trial in corporate tax case, Seoul High Court overturns 130 million won verdict

Share In2024-08-228893 Views
Bithumb has won the second appeal of its 130 million won (approximately $97,000) corporate tax lawsuit. On August 20th, the Seoul High Court overturned the first ruling and ruled in favor of Bithumb. The case originated in 2019 when the tax authorities imposed a corporate tax of 180 million won (approximately $134,000), later reduced to about 130 million won, on Bithumb for changing its virtual asset valuation method. The second court ruled that there were no clear accounting rules at the time, and Bithumb's choice of the "total average method" to evaluate virtual assets was legal, and its virtual assets should not be considered inventory assets, so there was no need to declare a change in the valuation method.

Related posts

POPULAR
  • one
    From cloud computing power to super computing power, SolaRoads global AI supercomputing supply platform sets off a new form of computing power
    03-1410563 Views
  • two
    D-NFT officially listed tomorrow chain mining, miners mortgage D-NFT token directly to get ETH
    11-0910060 Views
  • three
    The major tax myths about cryptocurrency debunked
    10-3113944 Views
  • four
    The United States will become the global crypto and blockchain leader
    10-3110315 Views
Navigation