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Nalezeno "crypto tax": 562

S Korean Gov’t Might ‘Eventually Raise the White Flag’ on Crypto Tax

5.11.2021
Pressure is growing on the South Korean government to back down over a controversial crypto tax law that will see trading profits over an annual total of USD 2,100 taxed at 20%. Per the Segye Ilbo, the “dominant feeling” among analysts is that the ruling Democratic Party will try to force through...

Odds Grow That South Korean Crypto Tax Will Be Postponed

18.10.2021
Media outlets and lawmakers have been pouring scorn on the South Korean government’s much-maligned plans to introduce a tax on crypto trading from next year – with some suggesting that Seoul will have to back down from its plans. As reported last week, the National Assembly will assess four...

South Korean Government Faces Raft of Crypto Tax Amendment Bills

13.10.2021
South Korean lawmakers are inundating parliament with crypto tax delay bills. The National Assembly’s financial committees are set to weigh up the values of four separate attempts to derail Seoul’s plans to levy 20% capital gains tax charges on all trading profits over an annual threshold of...

Seoul to Hold Firm on Crypto Tax Launch, Suggests NFT Tax May Follow

7.10.2021
dozen or so non-big four crypto exchanges are allowed to go bust.A number of online petitions have called on the government to reverse its bid to begin taxing crypto trading profits at a flat rate of 20% from January 1. Seoul will order tax filings from anyone earning over USD 2,1

U.K Citizens to Get Free Crypto Tax Services From Crypto.com

28.9.2021
Crypto.com, formerly known as Monaco, is a cryptocurrency website based in Hong Kong. Crypto.com was founded in 2016 and has over 3 million users now worldwide. With the launch of a crypto exchange in 2019, Crypto.com started offering many services like mobile wallets, MCO visa cards, crypto...

Most Surveyed South Koreans Want the Government to Tax Crypto

21.9.2021
ted the government to start taxing crypto traders and investors. The remainder stated they were unsure or undecided on the matter.Crypto tax was due to be introduced in October this year, but politicians agreed to push the launch back to January 1, 2022. The decision was made after domestic e

South Korean Ruling Party Squabbles over Crypto Tax

17.9.2021
tax code, which will see a flat rate of 20% tax levied on crypto tax profits of over USD 2,100 a year. If unamended, this change will come into force on January 1, 2022.But the ruling Democratic Party is wary of a backlash from angry voters aged 20-39 – the backbone of the party’s support –

US Lawmakers Propose to Subject Cryptocurrencies to Wash Sale Rule

17.9.2021
A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts...

South African Tax Body Updates Crypto Tax Guidance, Confusion Persists

2.9.2021
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in...

Canadian Tax Agency Launches Audit To Thwart Crypto Tax Evasion

1.9.2021
The Canada Revenue Agency (CRA) is increasingly targeting crypto traders who have not yet reported their profits from transactions as part of a large scale audit implemented by the tax agency’s Cryptocurrency Section. The crackdown was signaled by Norman MacDonald, head of tax litigation at...

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