[Alpha Biz= Reporter Paul Lee] Bithumb announced on the 10th that it will make a prepayment of 100% for the 400 billion won tax imposition notified by the National Tax Service to the event participants who participated in past events such as Bithumb's virtual asset payments. Bithumb notified through its announcement on the day that some of the participants in the 'virtual asset airdrop' event held between 2018 and 2021 received comprehensive income tax notice, and it will fully support the related tax amount. Customers subject to taxation can apply to Bithumb.
Previously, the National Tax Service claimed that compensations such as virtual assets paid to users through various events were taxable income of the users. Although Bithumb immediately provided evidence to the National Tax Service and submitted a contradictory position, it could not prevent the tax imposition.
The tax subjects this time are more than 17,000 participants in the event at the time, and 202 billion won was notified out of the total event compensation of 83.3 billion won. Bithumb has already completed the payment. Additionally, about 19 billion won in taxes will be additionally notified to users as comprehensive income tax. Bithumb estimates that the total amount will reach 400 billion won.
Legal disputes are also planned to continue. Bithumb's position is that it is currently undergoing a tax dispute through tax appeal against the National Tax Service's imposition of withholding tax on other income sources. The essence is that the virtual assets and commission paybacks provided through related events fall under the sales profit received according to the transaction performance agreed upon through prior notices, so they do not qualify as other income under the Income Tax Act.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
