[Alpha Biz=(Chicago) Reporter Paul Lee] Dunamu, the operator of the virtual asset exchange's Upbit, filed a lawsuit against tax authorities, saying corporate taxes should be exempted by 2018 when it was excluded from the venture business sector, but lost in the second trial.

According to legal circles on the 21st, the Seoul High Court's administrative department 1-3 rejected Dunamu's appeal in an appeal filed by Dunamu against the head of Yeoksam Tax Office in November last year.

The lawsuit began in 2018 when the government revised the Enforcement Decree of the Venture Business Act to exclude "blockchain-based cryptocurrency asset trading and brokerage" from the venture business sector. Dunamu was canceled in December of the same year. Information and communication companies that have been confirmed as venture companies are classified as small and medium-sized venture start-ups under the Special Taxation Restriction Act and can receive corporate tax breaks, but they will not be able to receive such benefits.

Dunamu filed an administrative lawsuit to cancel the cancellation of the venture certification, but lost. Since then, Dunamu has filed a petition with the Yeoksam Tax Office in August 2020, saying that the tax cut will remain the same until 2018, requiring a refund of some 24.8 billion won. When Yeoksam Tax Office refused to accept the request, Dunamu filed an administrative lawsuit.

The two trees objected and filed an appeal.

 

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