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Havas Group is launching Havas Blockchain, a fully integrated communications offering designed to support blockchain tech businesses and entrepreneurs. The offering is in partnership with Blockchain Partner, the top French blockchain transformation consultancy, and backed up by AMO, Havas Group’s leading global partnership of corporate and financial communications consultancies.
Led by Havas Paris consultant Fabien Aufrechter, a specialist team focusing exclusively on communities of cryptocurrency investors will combine the global communications consulting expertise of Havas Paris with the power and reach of the AMO network, particularly in Asia (Russia, Korea, Japan, Singapore, etc.), a strategic hub for ICO (Initial Coin Offering) investment, and with the strategic, technical and legal advice provided by Blockchain Partner.
Havas Blockchain will concentrate initially on support for ICOs, cryptocurrency fundraising rounds that have gained considerable ground since the beginning of 2017 (USD5.6 billion raised in 12 months – source: Token Data). In addition to ICOs, Havas Blockchain also offers training, coaching, public affairs and global communications support for firms operating in the blockchain ecosystem.
The partnership is already operational and working on a first ICO, scheduled for spring 2018, with Talao, the world’s first global platform connecting freelance talent and major corporations in every sector of activity, and totally decentralized thanks to blockchain.
Havas Blockchain’s commitment will be in the form of tokens acquired by the Havas Group.
For Stéphane Fouks, EVP Havas & Havas Creative and Advisor to Talao:
“Joining forces with Blockchain Partner will enable us to provide full-service support to firms eager to develop blockchain-based solutions. Our aim is to make Havas Group a key player in this new economy.”
For Claire Balva, CEO of Blockchain Partner, “Havas Blockchain’s communications expertise and Havas Group’s international reach will open up a new dimension for our clients’ blockchain projects. AMO network agencies, especially in Asia, will be invaluable in communicating directly with cryptocurrency investors”.
For Fabien Aufrechter, head of Havas Blockchain: “As leader of record in financial communications, Havas Paris is the natural go-to agency for ICOs, which are set for significant growth. This new field of financial communications, aimed at both traditional investors and the cryptocurrency community, will rely more specifically on community engagement, social media and public relations”.
About Havas Group:
Havas is one of the world’s largest global communications groups. Founded in 1835 in Paris, the Group employs 20,000 people in over 100 countries. Since the end of 2017, Havas Group is fully integrated into Vivendi. Havas Group is committed to being the world’s best company at creating meaningful connections between people and brands through creativity, media and innovation. Based on a client-centric model across media and creative, the Havas Group is the most integrated company in its sector. We operate with three business units (creative, media and healthcare & wellness) within our 52 Havas Villages all over the world where teams share the same premises ensuring agility and a seamless experience for clients.
Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto tax law.
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Still No Tax on Crypto Transactions
A lawyer in his early 40s recently revealed that he “made a profit of nearly 30 million won last year on investments in bitcoin and ether, but he did not pay any tax on virtual currency investments,” Money Today reported. The news outlet reiterated:
There is no obligation to pay tax even if you earn hundreds of thousands of won or even hundreds of millions of won in virtual currency investments.
Meanwhile, when selling stocks, there is a sales tax of 0.3% for listed securities and 0.5% for unlisted ones, the news outlet detailed.
“In the case of the ‘major shareholder,’ the obligation to pay tax on capital gains is also imposed. Unlisted shares also pay taxes on capital gains.”
Tax Regulation Timeframe
To rectify the situation, the tax authorities have set up “a virtual currency taxation standard in the first National Tax Administrative Reform Committee in 2018,” Money Today informed. Furthermore, the 2018 economic policy direction, announced by the Ministry of Strategy and Finance, has a schedule set for crypto taxation plan for the first half of this year, the news outlet added, noting that:
Korea will be able to pass the tax bill in the first half of this year if it is included in the amendment bill of the August tax law. Virtual currency taxation will be implemented next year.
Recently, local media reported that “Virtual currency taxation will come out in June.” However, the Ministry of Strategy and Finance subsequently issued a statement, clarifying that, “we are currently considering the taxation data through virtual currency taxation task force regarding virtual currency taxation,” adding that the media report was “not true.” An official of the ministry confirmed:
We did not set a specific time frame but we are thinking about announcing a virtual money tax during the first half of the year.
Crypto exchanges will . While reiterating that “Virtual money exchanges will have to pay taxes,” an official of the ministry was quoted by local publications early this year explaining that “we have yet to decide the exact tax rates as we are in talks with the National Tax Agency.”
What do you think of South Korea’s tax plan for crypto transactions? Let us know in the comments section below.
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