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Brazil’s oldest bank allows residents to pay their taxes using crypto
12.2.2023
The move will allow Brazilian taxpayers to easily settle their tax liabilities, meanwhile expanding "access" to the digital asset ecosystem
Romania Carries Out Raids as Part of Crypto Tax Evasion Probe
8.1.2023
Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders had failed to report digital assets exceeding...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time
4.2.2021
According to a report, the South African Revenue Service (SARS) has sent out audit requests to taxpayers asking them to disclose their cryptocurrency trades and purchases. Taxpayers that fail to correctly disclose their income from bitcoin or other cryptocurrencies may be “liable to a fine...
Japan Leverages 80 Tons of Gold to Help Fund Part of Its Stimulus Package
21.12.2020
Japan’s finance ministry has reportedly leveraged 80 tons of gold to help fund part of its huge stimulus package aimed at combating the coronavirus crisis. The Asian country, which is saddled with public debt twice the size of its economy, is under pressure to find non-tax revenues to cover...
Brazil Revenue Collector’s Data Shows Cryptocurrency Volumes Exceed $6 Billion Between January and September
15.12.2020
Raw data from the Federal Revenue of Brazil (RFB) shows that crypto traded volumes in the country exceeded $6 billion between January and September this year. According to the data, bitcoin dominates as it accounts for over 80% of traded volumes. Still, other cryptos like bitcoin cash, dai,...
Russian President Vladimir Putin Signs Order Compelling Government Workers to Disclose Crypto Holdings
13.12.2020
Russian President Vladimir Putin has signed an order compelling the country’s government workers to disclose their cryptocurrency holdings. The order stipulates that employees must submit details of where they bought the digital assets and the value thereof by June 30, 2021. Similarly...
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...