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South Korean Government to Start Taxing Crypto Trading Profits in 2022
8.1.2021
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will...
South Korea to introduce a 20% tax on crypto trading profits in 2023
7.1.2021
After several delays, the South Korean government is going ahead with a plan to tax cryptocurrency holders
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
US crypto firms invest in tax solutions as IRS updates reporting forms
7.1.2021
Coinbase Ventures, PayPal Ventures and Winkelvoss Capital have all invested in cryptocurrency tax automation software provider TaxBit
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...
Kenya Expects to Earn $46 Million as New Tax Targeting Crypto Exchanges Comes Into Force
7.1.2021
The Kenya Revenue Authority (KRA) is expecting to earn up to 5 billion Kenyan shillings ($45.5 million) during the first half of 2020 from a new tax that targets cryptocurrency exchanges and other online services, according to a top KRA official. First proposed in August 2020, the digital service...
Miami’s Mayor Considers Putting Some of City’s Treasury Reserves in Bitcoin
4.1.2021
Miami Mayor Francis Suarez is exploring putting a percentage of his city’s treasury reserves in bitcoin. Miami is currently working on accepting the cryptocurrency as a means of payment for city services and taxes. The mayor believes that “Bitcoin has been a stable investment during...
IRS to transition from ‘education to enforcement,’ says former division chief
3.1.2021
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear
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...
Crypto taxes, reporting and tax audits in 2021
28.12.2020
Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report
Israelis Must Now Disclose Crypto Holdings: Report
27.12.2020
Dozens of Israelis who own digital currencies have recently received notification telling them they must fully disclose their assets for taxation purposes
Israeli Tax Authorities Notify Cryptocurrency Owners to Disclose Their Holdings for Taxation Purposes
26.12.2020
The revenue collector, the Israel Tax Authority (ITA) has reportedly sent notifications to dozens of Israelis who own digital currencies asking them to fully disclose their assets and be taxed accordingly. In addition to sending letters to local citizens, the tax body has also sent inquiries...
Bitcoin & Crypto Taxes In US: When to Sell and When to Hodl
24.12.2020
With 2021 in sight, bitcoin (BTC) and other crypto investors in the US are facing a fork in the road. They can cash in on the gains that 2020 has delivered and take profits off the table or continue to hodl until the new year or longer. Whichever way they decide to go will determine when and...
Gifting crypto to loved ones this holiday? Educate them first
23.12.2020
Cryptocurrency may seem like the perfect holiday gift this year, but education is key when deciding how to gift digital assets
Tax justice for crypto users: The immediate and compelling need for an amnesty program
20.12.2020
A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions
IRS tax form question leaves US crypto users confused and concerned
17.12.2020
This year’s Form 1040 requires all U.S. taxpayers to answer a question about whether they traded or acquired “virtual currency” during the year
Ethereum 2.0 Has Another Mystery - Taxes
15.12.2020
As ethereum (ETH) holders are now learning how to stake their tokens and earn interest along the way, there is one question they’ll eventually need to ask, and hope there is a clear answer by then. Yes, it’s taxes. And the only thing that’s clear is that there’s no regulatory clarity on how...
Crypto Founder Faces 10 Years in Prison Over Millions of Dollars in Exit Scam Without Paying Taxes
13.12.2020
A cryptocurrency founder has been arrested and is facing up to 10 years imprisonment for tax evasion after running an exit scam. He allegedly made millions of dollars from his cryptocurrency and used an elaborate scheme to avoid paying taxes. Crypto Founder Exit Scams, Caught for Tax Evasion...
Bitcoin Is Going Through the Roof in Argentina While the Government Imposes New Taxes
11.12.2020
Argentina’s Senate approved an extraordinary one-time wealth tax to fight the coronavirus pandemic by seeking to boost government revenue and targeting millionaires with assets of more than 200 million pesos ($2.5 million). At the same time, the country still faces a 35% inflation....