Upbit Operator Dunamu Claims About KRW 25 Billion in Corporate Tax Return, Court Rules Against It

Odaily Planet Daily News Upbit operator Dunamu asked the South Korean tax authority to refund its corporate tax of more than 24.8 billion won, and the court ruled that Dunamu lost the lawsuit. Dunamu was initially certified as a venture enterprise under the SME and Start-up sector in September 2017, but received a cancellation notice nine months before the two-year validity period expired. At that time, an amendment to the "Enforcement Order of the Venture Enterprise Law" excluded the "blockchain-based encrypted asset transaction" industry from the scope of venture enterprises. If the certification of venture enterprises is cancelled, they will not be able to enjoy tax and financial incentives. Since then, when the cancellation of venture enterprise certification was confirmed, the tax authorities did not implement preferential policies for Dunamu's 2018 corporate tax relief. At present, Dunamu has raised an objection to the court's first-instance judgment and will appeal in the second instance in October. (Herald)