Supreme Court "733 billion won Bithumb Income Tax and Corporate Tax Canceled"

It has been reported that the Supreme Court has finally canceled the additional income tax of about 73.1 billion won and corporate tax of about 200 million won imposed on Bithumb by the National Tax Service.

According to the industry on the 9th, the Supreme Court's Special Division 1 (Presiding Judge Seo Kyung-hwan) dismissed the appeal without a hearing (2024du53727) on December 26, 2024, regarding the cancellation claim of additional income tax collection filed by Bithumb Co., Ltd. (Bithumb operator) against the Yeoksam Tax Office.

Dismissing an appeal without a hearing means that in civil cases, etc., if the claim regarding the reason for the appeal does not include significant violations of the law, the appeal is dismissed without further hearing.

Previously, in December 2019, the National Tax Service notified Bithumb of about 73.1 billion won in additional income tax and about 181.96 million won in corporate tax, claiming that Bithumb did not withhold taxes according to the Income Tax Act on 332.5 billion won paid to non-resident members (foreigners) from 2015 to 2017.

However, after Bithumb filed appeals with the Tax Tribunal twice in February 2020 and May 2022, the additional income tax was reduced twice, and after filing a lawsuit for the cancellation of additional income tax collection, Bithumb's additional income tax and corporate tax were finally canceled.