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Proposed US bill wouldn’t allow taxing block rewards at acquisition
1.5.2024
If incorporated into U.S. tax law, the bill would require block rewards from proof-of-work and proof-of-stake networks to be taxed when sold rather than when they were acquired
US Justice Dept charges Roger Ver with tax fraud
30.4.2024
Early crypto investor ‘Bitcoin Jesus’ faces extradition to the U.S. after being charged with evading nearly $50 million in taxes
Australian, Indonesian Tax Bodies Sign Agreement to Share Crypto Information
25.4.2024
The tax authorities of Australia and Indonesia have signed a memorandum of understanding to share information on cryptocurrency. Under this agreement, both entities will exchange data on crypto assets and share knowledge to ensure adherence to tax obligations. Agreement Underscores Two Countries’...
IRS Releases Draft Tax Form for Digital Assets — Expert Raises ‘Major Privacy and Security Concerns’
21.4.2024
The U.S. Internal Revenue Service (IRS) has released a draft tax Form 1099-DA for reporting digital asset proceeds from broker transactions. Brokers, including unhosted wallet providers, are required to report proceeds from digital asset dispositions to the IRS. A crypto tax expert has highlighted...
Crypto Tax Law Firm Accuses Ex-Employee of Stealing Secrets for YouTube Videos
11.4.2024
A law firm specializing in crypto taxes sued a competitor and a former employee, alleging misappropriation of confidential materials through YouTube videos.
The post Crypto Tax Law Firm Accuses Ex-Employee of Stealing Secrets for YouTube Videos appeared first on Cryptonews
Latam Insights: Paraguay Targets Bitcoin Miners, Brazil Mulls Crypto Taxation Changes
8.4.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguayan lawmakers introduce a bill to ban cryptocurrency mining, Brazil to change crypto taxation framework, and a poll finds that Latam believes CBDCs...
South Korea Tax Body Set to Seize 5,208 Crypto Traders’ Coins
8.4.2024
South Korean tax officials in the city of Pohang are set to seize cryptoassets from 5,208 residents who failed to pay local taxes.
The post South Korea Tax Body Set to Seize 5,208 Crypto Traders’ Coins appeared first on Cryptonews
Brazil Eyes Crypto Taxation Changes in New Bill
5.4.2024
Brazil is on the verge of presenting a new crypto taxation scheme proposed in a bill to be presented to the National Congress in the coming days. The bill proposes taxing cryptocurrencies the same way as shares and capital instruments with fluctuating exchange rates, instead of categorizing them...
Fear of Retrospective IRS Regulation Changes Discourages Filing, Says Crypto Tax Expert
3.4.2024
Many cryptocurrency users have not filed their tax returns, fearing that the Internal Revenue Service (IRS) might change regulations after they submit their returns, according to a cryptocurrency tax expert. The expert stated that the IRS has the discretion to apply laws retroactively...
Memes to Millions: The Tax Implications of Sudden Crypto Wealth
2.4.2024
IMF pressurizes Pakistan to levy taxes on crypto investments
19.3.2024
With the aim of normalizing Pakistan’s troubled economy and receiving financial support of $3 billion from the International Monetary Fund, they are pressurizing the country to levy appropriate taxation on crypto investments and real estate deals. During interactions between the IMF and...
Thailand Greenlights Income Tax Exemption for Investment Token Earnings: Report
13.3.2024
Earnings already subject to the 15% capital gains tax don't need to be included when calculating income taxes
South Korea Aims To Launch Virtual Asset Tracking System to Ensure Tax Transparency
11.3.2024
South Korea plans to launch a tracking system that aims to ensure virtual asset users aren’t avoiding taxes. The National Tax Service has reportedly chosen a consulting firm to develop a sophisticated system for overseeing these assets.
The post South Korea Aims To Launch Virtual Asset Tracking...
IRS ramps up crypto taxes: Experts hired, strengthen regulations
4.3.2024
In a moment when cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) are gaining popularity, the IRS is playing catch up by implementing toughening tax regulations on crypto. To consider the intricacies and the continuing nature of the digital asset space, the IRS recently announced...
Indonesia’s Commodities Regulator Requests Finance Ministry to Review Crypto Taxes
4.3.2024
The Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has been surpassing that generated from fintech...
Indonesia’s Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms
1.3.2024
Crypto is classified as a commodity in Indonesia and is subject to VAT and income tax
South Korean Province Collects $4.6M in Back Taxes Using Crypto Tracking System
22.2.2024
South Korean province of Gyeonggi is using a nuanced crypto tracking system to claw back unpaid taxes. So far, the province has collected $4.5 million in taxes from delinquents using the crypto tracking system.
The post South Korean Province Collects $4.6M in Back Taxes Using Crypto Tracking System...
South Korean Province Collects $4.6M in Taxes Using Crypto Tracking System
22.2.2024
South Korean province of Gyeonggi is using a nuanced crypto tracking system to claw back unpaid taxes. So far, the province has collected $4.5 million in taxes from delinquents using the crypto tracking system.
The post South Korean Province Collects $4.6M in Taxes Using Crypto Tracking System...
Latam Insights: Bukele Wins Presidential Ballot by Landslide, Brazil Strengthens Crypto Tax Oversight
12.2.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Nayib Bukele wins the presidential elections in El Salvador, the Brazilian tax authority finds over 25,000 irregularities in crypto tax statements,...
Thailand Abolishes Value-Added Tax Previously Applicable on Digital Asset Trades
9.2.2024
The Thailand Finance Ministry has announced the removal of the previously applicable value-added tax on digital asset trading. This exemption, which took effect on Jan. 1, 2024, extends to regulated brokers, dealers, and authorized cryptocurrency exchanges. VAT Exemption to Bolster Thailand’s...