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IMF Working Paper Urges Tax System Overhaul to Tackle Crypto’s Tax Collection Challenges
7.7.2023
A research paper published by the International Monetary Fund (IMF) warns that tax collection is significantly more challenging with cryptocurrency assets, and current tax systems are not designed to handle them. The IMF’s working paper emphasizes that certain crypto assets may not persist...
IRS Will Seize Cryptocurrencies From Investors to Settle Tax Debts, Official Warns
14.5.2021
An official of the U.S. Internal Revenue Service (IRS) has clarified that the agency is prepared to seize cryptocurrencies and sell them to satisfy tax collection if taxpayers fail to meet their tax obligations. Robert Wearing, IRS’ deputy associate chief counsel for Procedure &...
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...