{"id":5238,"date":"2023-09-20T11:56:33","date_gmt":"2023-09-20T11:56:33","guid":{"rendered":"https:\/\/legalavocado.com\/wp\/?p=5238"},"modified":"2023-09-20T13:56:17","modified_gmt":"2023-09-20T13:56:17","slug":"avocado-roundup-koreans-report-98-billion-in-foreign-crypto-assets-to-tax-authority","status":"publish","type":"post","link":"https:\/\/legalavocado.com\/wp\/avocado-roundup-koreans-report-98-billion-in-foreign-crypto-assets-to-tax-authority\/","title":{"rendered":"Avocado Roundup: Koreans Report $98 Billion in Foreign Crypto Assets to Tax Authority"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5238\" class=\"elementor elementor-5238\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-63d1b4de elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"63d1b4de\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7813b48b\" data-id=\"7813b48b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e5e018d elementor-widget elementor-widget-text-editor\" data-id=\"4e5e018d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 20-09-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tAvocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3154bc92 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3154bc92\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2a96a9a1\" data-id=\"2a96a9a1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4252605e elementor-widget elementor-widget-text-editor\" data-id=\"4252605e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Korean individuals and companies have reported about $98.4 billion (131 trillion won) in overseas cryptocurrency assets to the country&#8217;s tax authority in 2023 under a reporting requirement that took effect earlier this year. (<span style=\"background-color: transparent; font-size: 1rem; color: var( --e-global-color-text );\"><a href=\"https:\/\/www.koreatimes.co.kr\/www\/biz\/2023\/09\/602_359649.html\" target=\"_blank\" rel=\"noopener\"><i><u>Korea Times<\/u><\/i><\/a>)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ad540bd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ad540bd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-219b524\" data-id=\"219b524\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d49a7d3 elementor-widget elementor-widget-text-editor\" data-id=\"d49a7d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>Foreigners in Thailand who earn money from crypto investments will be subject to the country&#8217;s plan to start taxing all overseas income of people who reside there at least 180 days in a year, starting in 2024. (<a href=\"https:\/\/cointelegraph.com\/news\/crypto-thailand-tax-overseas-income\"><i><u>Coin Telegraph<\/u><\/i><\/a>)<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f8f5328 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f8f5328\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5d5b292\" data-id=\"5d5b292\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6229ed7 elementor-widget elementor-widget-text-editor\" data-id=\"6229ed7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>France&#8217;s tax authority this week for the first time used its power, under a 2018 law, to\u00a0<a href=\"https:\/\/www.impots.gouv.fr\/sanctions-administratives-appliquees-la-suite-dun-controle-fiscal\"><i><u>name and shame<\/u><\/i><\/a>\u00a0a company it penalizes following a tax audit. The law aimed to serve as a dissuasion to tax fraud. (<a href=\"https:\/\/www.legifiscal.fr\/actualites-fiscales\/3553-publication-sanction-fiscale-impotsgouvfr.html\" target=\"_blank\" rel=\"noopener\"><i><u>Legi Fiscal<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44894665 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44894665\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-57ad25b4\" data-id=\"57ad25b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59112236 elementor-widget elementor-widget-text-editor\" data-id=\"59112236\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tTax Increases, Rulings\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ef90193 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ef90193\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a6a731b\" data-id=\"a6a731b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3ffabb3 elementor-widget elementor-widget-text-editor\" data-id=\"3ffabb3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Nigeria loses as much as $18 billion per year to &#8220;illicit outflows&#8221; due to tax fraud, abusive transfer pricing, crime, and corruption, according to a report. (<a href=\"https:\/\/dailytrust.com\/nigeria-loses-18bn-to-illicit-financial-flows-annually-agf\/\" target=\"_blank\" rel=\"noopener\"><i><u>Daily Trust<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-153a02c5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"153a02c5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ea80712\" data-id=\"1ea80712\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4b7b4ddf elementor-widget elementor-widget-text-editor\" data-id=\"4b7b4ddf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The US Federal Trade Commission warned five tax preparation companies they could face civil penalties for misuse of consumer data. (<a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2023\/09\/ftc-warns-tax-preparation-companies-about-misuse-consumer-data\" target=\"_blank\" rel=\"noopener\"><i><u>FTC.gov<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b1d5d2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b1d5d2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-56b4725b\" data-id=\"56b4725b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e067f98 elementor-widget elementor-widget-text-editor\" data-id=\"5e067f98\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>An Illinois county jury indicted three people accused of more than $3 million in sales tax fraud at gas stations. (<a href=\"https:\/\/www.25newsnow.com\/2023\/09\/20\/3-people-charged-1-million-sales-tax-evasion-case-involving-area-gas-stations\/\" target=\"_blank\" rel=\"noopener\"><i><u>25 News Now<\/u><\/i><\/a>)\u00a0<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5b9627b7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b9627b7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-642ecdde\" data-id=\"642ecdde\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74c8fa68 elementor-widget elementor-widget-text-editor\" data-id=\"74c8fa68\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Laterals, Moves, Promotions<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3049997c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3049997c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d4bfc9\" data-id=\"1d4bfc9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b960642 elementor-widget elementor-widget-text-editor\" data-id=\"2b960642\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Orrick Herrington &amp; Sutcliffe hired away Greenberg Traurig renewable energies tax attorney\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/john-eliason-3a91b98\/\" target=\"_blank\" rel=\"noopener\"><i><u>John Eliason<\/u><\/i><\/a>, who co-led Greenberg&#8217;s energy project\u00a0 finance practice. He joins Orrick as partner on its energy and infrastructure team. (<a href=\"https:\/\/www.orrick.com\/en\/News\/2023\/09\/Leading-Renewables-Tax-Expert-John-Eliason-Joins-Orrick\" target=\"_blank\" rel=\"noopener\"><i><u>Orrick.com<\/u><\/i><\/a><span style=\"background-color: transparent; color: var( --e-global-color-text );\">)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-23a2b3b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"23a2b3b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-21679b0\" data-id=\"21679b0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c209ff9 elementor-widget elementor-widget-text-editor\" data-id=\"c209ff9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Canadian business law firm Osler Hoskin &amp; Harcourt said former federal appeals court Chief Justice Marc No\u00ebl joined the firm as partner in its national tax office in Ottawa.<span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">\u00a0(<\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.osler.com\/en\/about-us\/press-room\/2023\/former-chief-justice-of-the-federal-court-of-appeal-marc-noel-joins-osler\" target=\"_blank\" rel=\"noopener\"><i><u>Osler.com<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ee2bb96 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ee2bb96\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ff67cd4\" data-id=\"ff67cd4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-46fee95 elementor-widget elementor-widget-text-editor\" data-id=\"46fee95\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>EY Law&#8217;s Spanish unit EY Abogados hired longtime Baker McKenzie tax adviser&nbsp;<a href=\"https:\/\/www.linkedin.com\/in\/ana-royuela-4751b07\/\" target=\"_blank\" rel=\"noopener\"><u><i>Ana Royuela<\/i><\/u><\/a>&nbsp;as partner in Barcelona. At Baker McKenzie for over 23 years, including close to 14 as partner, Royuela led the firm&#8217;s value added tax practice for the Europe, Middle East, and Africa region. (<a href=\"https:\/\/iberianlawyer.com\/ey-abogados-incorporates-new-partner\/\" target=\"_blank\" rel=\"noopener\"><i><u>Iberian Lawyer<\/u><\/i><\/a>)<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans. Korean individuals and companies have reported about $98.4 billion (131 trillion won) in overseas cryptocurrency assets to the country&#8217;s tax authority in 2023 under a reporting requirement that took effect earlier this year. (Korea Times) Foreigners [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5499,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[77,28,68,95,66,17],"tags":[],"class_list":["post-5238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-crypto","category-fraud","category-korea","category-tax-raid","category-transfer-pricing"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/5238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/comments?post=5238"}],"version-history":[{"count":268,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/5238\/revisions"}],"predecessor-version":[{"id":5515,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/5238\/revisions\/5515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media\/5499"}],"wp:attachment":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media?parent=5238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/categories?post=5238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/tags?post=5238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}