Blockchain Summit to be held in Frankfurt

Nexus Mediacom is organizing Blockchain Summit 2018 in Frankfurt on April 26 to discuss the impact of blockchain on business
12 April 2018   1421

Frankfurt is playing host to Blockchain Summit 2018 by Nexus Mediacom on April 26. A 1-day conference and exhibition offers unparalleled programme of visionary speakers and case studies. It connects over 700 industry leaders, business decision makers, tech innovators and inventors. Thus, Blockchain Summit is the largest dedicated blockchain event in Europe with no co-located side events. Most advanced case studies offer a "how-to" approach to deploying Blockchain technologies across industries like finance, insurance, logistics, utilities, media and entertainment, and more.

This year list of speakers includes representatives of Commerzbank, Allianz, Accenture, IBM, Volkswagen Financial Services, ORACLE Cloud, Bosch, Deutsche Bank, UBS and many others. Roundtable discussions and hosted networking sessions provide exceptional opportunities for attendees to connect with peers and deep-dive into topics. Interactive exhibition allows participants to engage with industry's leading solution providers and innovative startups.

The venue is Kap Europa Convention Center with opening hours 08:30 ~ 18:00. The agenda can be found here.

Bithumb Filed Appeal Against Korean Tax Office

Looks like the korean exchange doesn't really want to pay an additional tax worth $67 000 000
16 January 2020   119

The South Korean cryptocurrency exchange Bithumb has filed a complaint against the National Tax Service (NTS) because of the requirement to pay additional taxes for the transactions of its foreign customers.

The company claims that cryptocurrencies do not have an official status in the territory of South Korea, which is why the authorities cannot have sufficient reasons to levy any taxes.

The tax court will have to decide within 90 days whether to retain or withdraw from Bithumb the obligation to pay the $ 69.1 million tax that was assigned to it by NTS in November. The Office declares that the withdrawal of income from accounts in Korean won by foreign residents is a taxable event. It is assumed that the exchange itself had to withhold tax from its foreign customers.

We paid the full amount and have since been preparing for arguments. We believe we will be given a chance to clarify our stance in court.

 

Bithumb

 The ministry has its own position on this issue.

Bitcoin under the current law is not an asset. It is clear and simple. The Ministry of Economy and Finance already made that clear. The NTS pushing ahead with the tax imposition is baseless and groundless, especially since it is still awaiting the ministry opinion on the same matter it sought again.

 

Choi Hwoa-in

Adviser to Financial Supervisory Service

According to the expert, the NTS maneuver is well thought out and aimed at starting to levy a tax on income that is currently not taxable.

We cannot comment on the ongoing matter. We will await the judgment from the Tax Tribunal.

 

NTS

Earlier, Bithumb was ordered to pay an additional $ 67 million in tax.