Blog
/
Crypto tax
Expert verified
5 min read

South Korea To Tax Crypto Airdrops, Italian Revenue Agency Clarifies Rw Form Declarations

Ayush Pande
Written by:
Ayush Pande
Reviewed by:
Ayush Pande
South Korea To Tax Crypto Airdrops, Italian Revenue Agency Clarifies Rw Form Declarations
Our Editorial Standards:

Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Risk Warning and Our Editorial Process.

A South Korean tax authority notes, “In the case of a free gift of virtual assets, the principle is, of course, the subject of taxation.”

South Korea ramps up its crypto regulations as the Ministry of Strategy and Finance interprets the current tax laws to state that a gift tax will be imposed on crypto airdrops. Meanwhile, the Italian Revenue Agency explains that crypto traders are not required to fill the Rw form if transactions are made through an Italian platform.

The South Korean tax authorities claim that giveaways and free release of crypto tokens should be charged with a gift tax as the free transfer of tokens counts as a gift under the Inheritance and Gift Tax Act. Moreover, this gift tax will be levied on users who are on the receiving end of the free transfer.

Users entitled to pay the gift tax will have to file a gift tax return within three months of receiving the crypto airdrop, with the tax rate ranging between 10 to 50%.

The Ministry has partially agreed that whether an airdrop qualifies for taxation will be determined by the “transaction situation.”

On the other hand, the Italian Revenue Agency issued Notice 956-448/2022 to clarify the doubts regarding the filing of Rw framework declarations for income tax from cryptocurrency transactions. It was believed that the Rw form would cover all overseas investments; the Revenue Agency now claims that investments made using Italian platforms will be exempt from filing Rw declarations.

Despite these statements adding some semblance of clarity, details about Italy’s tax policies concerning crypto investments remain somewhat hazy due to a general lack of regulation in the crypto market.

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Risk Warning and the Bitcompare Editorial Process.

South Korea To Tax Crypto Airdrops, Italian Revenue Agency Clarifies Rw Form Declarations

South Korean Ministry of Strategy and Finance claims that a gift tax will be imposed on crypto airdrops. Meanwhile, the Italian Revenue Agency explains that crypto traders are not required to fill the Rw form if transactions are made through an Italian platform.
Dot
May 19, 2025
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
A South Korean tax authority notes, “In the case of a free gift of virtual assets, the principle is, of course, the subject of taxation.”

South Korea ramps up its crypto regulations as the Ministry of Strategy and Finance interprets the current tax laws to state that a gift tax will be imposed on crypto airdrops. Meanwhile, the Italian Revenue Agency explains that crypto traders are not required to fill the Rw form if transactions are made through an Italian platform.

The South Korean tax authorities claim that giveaways and free release of crypto tokens should be charged with a gift tax as the free transfer of tokens counts as a gift under the Inheritance and Gift Tax Act. Moreover, this gift tax will be levied on users who are on the receiving end of the free transfer.

Users entitled to pay the gift tax will have to file a gift tax return within three months of receiving the crypto airdrop, with the tax rate ranging between 10 to 50%.

The Ministry has partially agreed that whether an airdrop qualifies for taxation will be determined by the “transaction situation.”

On the other hand, the Italian Revenue Agency issued Notice 956-448/2022 to clarify the doubts regarding the filing of Rw framework declarations for income tax from cryptocurrency transactions. It was believed that the Rw form would cover all overseas investments; the Revenue Agency now claims that investments made using Italian platforms will be exempt from filing Rw declarations.

Despite these statements adding some semblance of clarity, details about Italy’s tax policies concerning crypto investments remain somewhat hazy due to a general lack of regulation in the crypto market.

South Korea To Tax Crypto Airdrops, Italian Revenue Agency Clarifies Rw Form Declarations

HomeCrypto tax
Contents
A South Korean tax authority notes, “In the case of a free gift of virtual assets, the principle is, of course, the subject of taxation.”

South Korea ramps up its crypto regulations as the Ministry of Strategy and Finance interprets the current tax laws to state that a gift tax will be imposed on crypto airdrops. Meanwhile, the Italian Revenue Agency explains that crypto traders are not required to fill the Rw form if transactions are made through an Italian platform.

The South Korean tax authorities claim that giveaways and free release of crypto tokens should be charged with a gift tax as the free transfer of tokens counts as a gift under the Inheritance and Gift Tax Act. Moreover, this gift tax will be levied on users who are on the receiving end of the free transfer.

Users entitled to pay the gift tax will have to file a gift tax return within three months of receiving the crypto airdrop, with the tax rate ranging between 10 to 50%.

The Ministry has partially agreed that whether an airdrop qualifies for taxation will be determined by the “transaction situation.”

On the other hand, the Italian Revenue Agency issued Notice 956-448/2022 to clarify the doubts regarding the filing of Rw framework declarations for income tax from cryptocurrency transactions. It was believed that the Rw form would cover all overseas investments; the Revenue Agency now claims that investments made using Italian platforms will be exempt from filing Rw declarations.

Despite these statements adding some semblance of clarity, details about Italy’s tax policies concerning crypto investments remain somewhat hazy due to a general lack of regulation in the crypto market.

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

A South Korean tax authority notes, “In the case of a free gift of virtual assets, the principle is, of course, the subject of taxation.”

South Korea ramps up its crypto regulations as the Ministry of Strategy and Finance interprets the current tax laws to state that a gift tax will be imposed on crypto airdrops. Meanwhile, the Italian Revenue Agency explains that crypto traders are not required to fill the Rw form if transactions are made through an Italian platform.

The South Korean tax authorities claim that giveaways and free release of crypto tokens should be charged with a gift tax as the free transfer of tokens counts as a gift under the Inheritance and Gift Tax Act. Moreover, this gift tax will be levied on users who are on the receiving end of the free transfer.

Users entitled to pay the gift tax will have to file a gift tax return within three months of receiving the crypto airdrop, with the tax rate ranging between 10 to 50%.

The Ministry has partially agreed that whether an airdrop qualifies for taxation will be determined by the “transaction situation.”

On the other hand, the Italian Revenue Agency issued Notice 956-448/2022 to clarify the doubts regarding the filing of Rw framework declarations for income tax from cryptocurrency transactions. It was believed that the Rw form would cover all overseas investments; the Revenue Agency now claims that investments made using Italian platforms will be exempt from filing Rw declarations.

Despite these statements adding some semblance of clarity, details about Italy’s tax policies concerning crypto investments remain somewhat hazy due to a general lack of regulation in the crypto market.

Written by
Ayush Pande