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Nalezeno "Taxes": 944

Government Confirms Crypto Profits Not Taxable in South Korea

2.1.2020
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend...

South Korea Imposes $69M Tax Obligation on Crypto Exchange Bithumb

30.12.2019
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles...

Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

28.12.2019
As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their...

Russia’s Supreme Court Recognizes Tokens as Assets Like Money and Property

26.12.2019
A phenomenon like bitcoin can gain recognition, including regulatory, in many different and often unexpected ways. Governments that hesitate to accept cryptocurrencies as legal tender, sometimes validate their existence indirectly and even acknowledge they can be used for payments. Taxing crypto...

Thomson Reuters Launches Crypto Tax Tool

23.12.2019
Tax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS. Also Read:...

Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance

23.12.2019
Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins. Also read: Regulatory...

Poles Hit With Backdated Tax on Crypto Trades

16.12.2019
Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish...

Denmark’s Tax Authority Sends Warning Letters to 20,000 Crypto Owners

11.12.2019
The tax authority of Denmark has reportedly sent out warning letters to 20,000 crypto owners asking them to amend their tax returns, pay taxes on crypto gains, or face penalties. The tax agency is demanding a full breakdown of their crypto transactions; it recently obtained information on these...

IRS Now Requires Tax Filers to Disclose Crypto Activities

9.12.2019
The U.S. Internal Revenue Service (IRS) has finalized and put in use a new tax form that requires crypto owners to declare whether they received, bought, sold, exchanged, or acquired any cryptocurrencies in 2019. Tax experts are frustrated at the vagueness of the tax agency, with some questioning...

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