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Kazakhstan CBDC pilot drastically reduces VAT refund wait
30.10.2024
The National Bank's latest project again shows the advantages of programmable central bank digital currency
UAE Exempts Crypto Transactions From Value Added Tax
7.10.2024
The United Arab Emirates has exempted crypto transactions from value-added tax (VAT), according to an amendment in the law made by the Federal Tax Authority
UAE Introduces Retroactive VAT Exemptions for Crypto Transactions
7.10.2024
The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially...
UAE exempts crypto transfers, conversion from value-added tax
6.10.2024
The UAE has exempted cryptocurrency transfers and conversions from value-added tax, positioning itself as a more crypto-friendly jurisdiction for digital asset transactions
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users
5.7.2024
Nigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player...
KuCoin VAT charge raises concerns among Nigerian crypto community
3.7.2024
The approving authority behind this taxation remains unclear, whether it's the Nigerian government or an agency like the Federal Inland Revenue Service (FIRS)
Thailand Pushes Towards Digital Asset Hub with Introduction of VAT-Free Crypto Trading
7.2.2024
In a move to position Thailand as a leading digital asset hub, the country’s Finance Ministry has announced the exemption of value-added tax (VAT) on digital asset trading. The decision aims to promote digital assets as a new alternative tool for fundraising and drive the growth of...
Hungarian Authorities Seize Crypto Worth $1M in Tax Fraud Case
23.9.2023
Hungarian authorities have seized cryptocurrency worth over $1 million from a criminal organization in a value-added tax (VAT) fraud case. The authorities raided 28 locations, arrested three suspects, and seized various assets tied to the group. The seized cryptocurrencies were transferred to...
Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales
28.6.2022
Russia is turning to blockchain technology in an effort to counteract economic isolation brought on by the sanctions imposed due to its invasion of Ukraine
Thailand Exempts Crypto Transfers From VAT Until End of 2023
25.5.2022
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce...
Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May
4.4.2022
The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases. Indonesia to Start Taxing Crypto Income at 0.1% The Indonesian Directorate General of Taxes,...
UK tax authority makes first NFT seizure in VAT fraud case
14.2.2022
The tax authority made three arrests in connection with a suspected tax evasion using shell companies and false identification
Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining
9.2.2022
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining...
Tajuplný Angkor Vat: Kam zmizel milion lidí z kdysi největšího města známého světa?
13.1.2022
V srdci kambodžské džungle leží dokonale ukrytý unikát: Angkor Vat, nejrozlehlejší náboženský komplex planety. O existenci monumentálního svatostánku přitom neměl po dlouhá staletí téměř nikdo ponětí – přestože ve středověku v místě prosperovalo největší město tehdejšího světa
Political Parties in Thailand Voice Opposition to Government Plan to Tax Crypto Gains
13.1.2022
As Thailand prepares to impose a levy on crypto profits, parties on both sides of the aisle have expressed concerns over the government’s current proposal. A number of political figures have insisted that important aspects need to be clarified in order to avoid double taxation of income...
El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’
21.11.2021
President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from...
Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders
13.4.2021
Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines...
Spain’s Tax Authority Sending Notices to 66,000 Cryptocurrency Owners
2.4.2020
The Spanish tax authority has reportedly started sending notices to about 66,000 cryptocurrency owners in the country. This number represents a massive increase from the 14,700 tax letters the agency sent to crypto owners last year. The letters will continue to be sent until the end of June despite...
Poles Hit With Backdated Tax on Crypto Trades
16.12.2019
Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish...
Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin
3.9.2019
Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature...