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Indians Moved Over $3.8B to Foreign Exchanges Since Crypto Tax Rules: Research Study
4.1.2023
A research study found that Indians moved more than $3.8 billion in cumulative trading volume from local to international crypto exchanges after the nation announced stiff crypto tax rules last year
Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law
2.1.2023
The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a 3.5% aliquot for undeclared cryptocurrencies held...
UK Enforces Crypto Tax Break for Foreigners Using Local Brokers
1.1.2023
The measures now in effect are part of the government's plans to turn the country into a crypto hub
U.S. delays crypto tax reporting rules, as it still can’t define what a 'broker' is
23.12.2022
Congress passed a law in November 2021 that required the new crypto rules to be issued
Japan set to ease 30% crypto tax on paper profits for token issuers
16.12.2022
As it stands, Japanese crypto issuers are required to pay a set 30% corporate tax rate on their holdings, even if they haven’t realized a profit through a sale
New House Financial Services Committee chair wants to delay crypto tax changes
16.12.2022
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury
Incoming House Financial Services Committee Chair Asks Secretary Yellen to Delay Crypto Tax Provision
15.12.2022
Rep. Patrick McHenry, the soon-to-be chair of the House Financial Services Committee, wrote a public letter to Treasury Secretary Janet Yellen asking her to delay the implementation of the tax provision in last year's infrastructure law
UK Extends Crypto Tax Break for Investment Managers in Financial Reforms
9.12.2022
Rishi Sunak’s government has already legislated to use stablecoins as a means of payment as he seeks to make the country a crypto hub
Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions
5.12.2022
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa...
If You Lost Money on FTX, You May See Some Tax Relief
18.11.2022
What you need to know for your 2022 tax filing if you lost money or used the FTX crypto exchange
The Tax Implications of the FTX Bankruptcy
17.11.2022
EY’s Crypto Tax Leader Breaks Down What You Need to Know This Tax Season
17.11.2022
Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals
12.11.2022
The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies...
IRS Building ‘Hundreds’ of Crypto Cases — Official Says $7 Billion in Crypto Seized in 2022
8.11.2022
The Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation Division seized about $7 billion in cryptocurrency, which was double the previous year’s...
India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms
1.11.2022
India’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the taxability of crypto transactions to determine if the goods and services tax (GST) can...
The World’s Weakest Currency, Kiyosaki Says Greenback Is ‘Toast,’ IRS Crypto Tax Update and More — Bitcoin.com News Week in Review
30.10.2022
In this week’s hottest stories from Bitcoin.com News: the Ghanaian cedi’s recent slide to a new low against the USD, Rich Dad Poor Dad author Robert Kiyosaki weighs in on Saudi Arabia’s move to join the BRICS nations, the United States Internal Revenue Service updates tax filing...
IRS Updates Crypto-Related Instructions for 2022 Tax Filing
25.10.2022
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New...
France to Explore Crypto Tax Treatment Next Year
17.10.2022
The self-styled crypto hub won’t just copy-and-paste traditional finance norms, but Bruno Le Maire is also worried about energy consumption
Portugal Prepares to Tax Crypto Gains at Rate of 28%, Draft Budget Unveils
11.10.2022
Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government...
OECD Presents Crypto Tax Reporting Framework
11.10.2022
The Organisation for Economic Co-operation and Development (OECD), an intergovernmental organization that seeks to stimulate economic progress, has published a global framework for crypto tax reporting.
According to a press release, the framework, dubbed the Crypto-Asset Reporting Framework...