South Korea uses Blockchan as incentive for tax credit

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  • Blockchain
  • 6 months ago
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Regardless of a bearish period undergone by most, if not all crypto tokens, the South Korean government has added blockchain to the list of research and development fields which qualifies for a tax credit.

The local Ministry of Strategy and Finance announced the updated tax law which will go into effect from the beginning of February.

Therefore, increasing the interest in the technology and at the same time searching for the innovative potential it may provide to sectors such as financial technology, banking and the improving of economic practices.

This follows earlier developments of the city of New York which opened its first Blockchain centre tanks to a $100,000 injection by the government.



Source: Smart Trend Team