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Nalezeno "US Taxes": 979

Korean gov't clarifies crypto regulatory roles of different agencies

28.5.2021
After some confusion, South Korea's government has laid out which state and regulatory bodies are charged with the oversight of various aspects of crypto-related activities

H&R Block needs clear regulations before dealing with crypto taxes, CEO says

25.5.2021
Ultimately, crypto taxing could be part of the business, H&R Block CEO Jeff Jones added

South African Crypto Holders Urged to Approach Tax Body Before It Descends on Them

19.5.2021
A South Africa-based tax expert, David Lesperance, says with the country’s revenue collector now closing in on cryptocurrencies, holders must now take the initiative and approach South Africa Revenue Services (SARS) before it descends on them. Lesperance argues that by making the first move...

South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official

18.5.2021
The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’...

US lawmaker introduces bill aimed at protecting 'forked assets' from IRS

18.5.2021
This is the third time Rep. Emmer has introduced the bill to the House of Representatives, but the first with a Democrat in the presidency

Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe

18.5.2021
Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious...

Argentina’s tax body reportedly asks crypto firms to report all activity

14.5.2021
Argentina’s tax authority AFIP reportedly ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations

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 &...

IRS will seize your crypto if you can't pay back taxes

12.5.2021
If you’re a cryptocurrency holder with past-due tax debts, your provable holdings may be confiscated by the IRS if you don’t pay back what you owe

Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

12.5.2021
The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with...

Hungary plans Bitcoin tax cut as part of economic recovery program

11.5.2021
Lawmakers are reportedly planning to cut taxes on Bitcoin gains in half, possibly as early as 2022

Indonesia considers capital gains tax on cryptocurrency trades

11.5.2021
A new capital gains tax scheme on crypto trades is still being discussed, according to a tax official

South African Tax Collector Targeting Crypto Investors in Its Bid to Raise Extra Revenues

10.5.2021
Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area...

South Korea to Impose a 20% Tax on Crypto Mining Activities

8.5.2021
The cryptocurrency industry in South Korea keeps facing regulatory challenges, and it seems that dust is far from settling. Now, crypto miners will be required to pay taxes, following the same path as digital assets traders. Ruling to Take Place Starting 2022 According to a report published...

Court Authorizes IRS to Summon User Records From Kraken Cryptocurrency Exchange

6.5.2021
The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto...

Young Koreans Less Keen on Crypto Taxation Than Older Generations, Poll Finds

4.5.2021
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans...

South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes

4.5.2021
South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax....