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US crypto tax startup TaxBit to channel $100M raise into UK expansion
3.3.2021
Utah-based startup TaxBit prepares to provide global crypto-oriented tax expertise with a newly raised $100 million
Duma Committee Chief Throws up Roadblock to Russia’s Crypto Tax Plans
25.2.2021
A parliamentary legislation committee leader has stated that there is a need to provide with legal status and legally binding definitions for crypto-related terms in Russia before proceeding with further tax-related lawmaking and regulation. The move potentially throws a spanner into the works...
Russia’s Crypto Tax Bill Passes First Reading at State Duma
17.2.2021
The bill proposes to recognise cryptocurrency as property for purposes of taxation
Russian Parliamentary Committee OKs Crypto Tax Bill, but Flaws Remain
16.2.2021
Russia has moved a step closer to imposing a system of crypto tax, after the country’s parliament, the State Duma, approved a much-maligned crypto tax bill in the first reading at the committee stage – although the story is unlikely to end there.
As previously reported, the country’s first...
Cordoba Becomes the First Argentinean Province to Impose Taxes on Crypto-Related Activities
9.2.2021
In Argentina, a provincial legislature has voted in favor of a bill to impose new taxes on gross incomes from crypto transactions. Cordoba’s central province is now the first one to impose crypto taxes in the country, which involves crypto exchange platforms and retail traders. Approved...
Spanish Treasury Releases Guidelines to Minimize the Risk of Tax Evasion With Cryptocurrencies
5.2.2021
The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan. Spanish Tax Authorities Could Ask Local Exchanges for Customers Data...
Argentinian Province Introduces Sweeping Crypto Tax Laws
5.2.2021
The central province of Córdoba, Argentina, appears to have had enough of waiting for the national government to act on crypto tax – and has instead moved to introduce a local tax on the crypto activities of its residents.
Per CBA24n, the provincial legislature has voted in favor of a new bill that...
Kenyan crypto firms on notice as digital tax law takes effect
8.1.2021
Crypto transactions in Kenya now attract a 1.5% tax
PayPal, Coinbase Invest in Crypto Tax Automation Startup TaxBit
7.1.2021
PayPal Ventures, Coinbase Ventures and Winklevoss Capital invested an undisclosed amount in the firm
South Korea’s 20% Crypto Tax Now Coming in 2023: Report
7.1.2021
The cryptocurrency tax was originally planned to be implemented in late 2021
IRS Updates Tax Requirements for Cryptocurrency Owners
7.1.2021
The U.S. Internal Revenue Service (IRS) has updated its instructions for disclosing crypto activities. The update provides clarification on who must answer “yes” to the IRS’ crypto question and when it is appropriate to select “no” as the answer. IRS Publishes...
Economics Professor Tyler Cowen Says Cryptos Useful as Hedges or Forms of Payments – ‘Not Both’
4.1.2021
Tyler Cowen, an economist and professor at George Mason University, has suggested that the key use cases of cryptocurrencies are mutually exclusive. He argues that cryptos can either be important inflation hedging tools or useful forms of payment but not both. The Regulation Threat The professor...
Indian Crypto Tax, Listed VR Company Diversifies Into Bitcoin + More News
29.12.2020
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Tax news
The Indian government could become the latest to impose a tax on crypto trading. In a report, the Times of India stated that politicians...
India Considers 18% GST on Bitcoin Transactions
29.12.2020
The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic...
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...
OECD Says It Is Working on Crypto Tax Reporting Standards for 2021
27.11.2020
The Organisation for Economic Co-operation and Development (OECD) looks set to adopt an international set of standards that will change the way crypto taxes are reported – and the body is ready to apply the same kind of tax standards as it uses to police conventional finance in its efforts to...
OECD tax director says international crypto tax standards are coming in 2021
27.11.2020
The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year
South Korean Crypto Tax May Be Delayed after Parliamentary Intervention
25.11.2020
South Korean crypto investors could receive a welcome stay of execution from new crypto taxes – with parliamentarians pushing Seoul to postpone a much-maligned crypto tax reporting act.
Per the Dong-a Ilbo, a leading South Korean parliamentary committee has made a late intervention in the matter...
South Korea May Delay Implementation of 20% Crypto Tax Till 2022
25.11.2020
The National Assembly is pushing for a delay to the tax proposal to allow exchanges more time to prepare
South Korean government to delay crypto-tax rules by three months
25.11.2020
Following lobbying by the Korean Blockchain Association, crypto exchanges are given extra time to implement a new tax infrastructure