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Nalezeno "Taxes": 978

Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes

17.1.2024
Indonesian crypto exchanges saw a sharp 60% drop in trading volumes in 2023, challenging its reputation as a fast adopter of digital assets

Cryptocurrency and Taxes: A Guide for the 2023-2024 US Tax Season

11.1.2024
Source: AdobeStock / Nuthawut If one thing in life is certain, it’s that we all have to pay taxes. Therefore, it’s important for cryptocurrency holders and investors to understand everything involved when it comes to crypto and taxes. This is becoming even more critical as digital assets gain...

Honduran City of Prospera Adopts Bitcoin as Unit of Account

9.1.2024
The city of Prospera in Honduras has recently adopted bitcoin as a unit of account, allowing companies to pay taxes and determine obligations in bitcoin. The measure could incentivize the development of a circular economy, given that bitcoin has been legal tender in the city since 2022. Prospera...

South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement

5.1.2024
South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized...

New Crypto Tax Law Takes Effect in US: Transactions of $10,000 or More Must Be Reported to IRS Within 15 Days

3.1.2024
A new tax reporting law has entered into force in the U.S. Starting on Jan. 1, all Americans receiving $10,000 or more in crypto in the course of their trade or business must file a report with the Internal Revenue Service (IRS) within 15 days. “If you don’t file a report within...

Russia Will Begin Collecting Taxes in Digital Rubles from 2025

3.1.2024
Source: Valery/Adobe Russian tax authorities will start collecting taxes in digital rubles from 2025, with banks also handed powers to block “suspicious-looking” CBDC transactions. Per the media outlet Klerk, recent tax code amendments – signed into law by President Vladimir Putin late last year...

Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023

29.12.2023
Source: chekart/Adobe Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised $900,000 worth of tax revenue from crypto...

Japanese Cabinet Approves Tax Reform Eliminating Unrealized Crypto Gains Tax for Companies

25.12.2023
The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently....

Crypto Tax Planning: Merging Tax-Loss Harvesting With Charitable Giving

19.12.2023
As the year winds down, cryptocurrency investors can combine tax-loss harvesting with cryptocurrency donations to charities, a move that optimizes tax benefits while supporting worthy causes. Embrace Year-End Tax Strategy With Charitable Giving Twist As the end of the year rapidly approaches...

FTX Debtors Challenge IRS Over Whopping $24 Billion Tax Claim

12.12.2023
Source: Adobe / Александр Поташев Debtors of FTX have raised concerns over the Internal Revenue Service’s (IRS) claim of $24 billion in taxes, warning that it could impede the return of customer funds. In a filing submitted on Sunday, the debtors argued that their earnings were nowhere near...

Japan Mulls Exempting Companies From Paying Taxes on Unrealized Cryptocurrency Gains

9.12.2023
Japan is considering exempting corporations from paying unrealized gains income taxes related to cryptocurrency holdings. The measure, proposed as part of a reform in Japan’s tax code, would allow companies to avoid paying taxes for cryptocurrencies even if their market value changes during...

Residents of Swiss City of Lugano to Pay Taxes With Bitcoin

7.12.2023
Citizens of the Swiss city of Lugano can now settle their tax bills and other community fees with bitcoin and the stablecoin tether. By adding crypto to payment options, Lugano joins three other Swiss cities and cantons which already accept crypto payments. Accelerating the Use of Bitcoin The Swiss...

The City of Lugano Drives Crypto Adoption, Accepts Bitcoin and Tether for Tax Payments

5.12.2023
Lugano takes a major step in crypto adoption by letting residents pay taxes with Bitcoin and Tether. Image by Myst, Adobe Stock. The city of Lugano, Switzerland made a bold move to drive cryptocurrency adoption by announcing today that it will now accept tax payments in Bitcoin (BTC) and Tether...

South African Govt. enforces fresh taxes on online forex brokers: National Treasury updates

5.12.2023
The government has decided to levy a fresh tax on online forex brokers. The aim is to align the initiative of increasing revenue for the public good. New forex tax rules outline that platforms providing forex services to their customers will have to shed a few more dollars on their gross revenue....

UK Won’t Excuse Ignorance in the Hunt for Unpaid Crypto Taxes, Experts Say

30.11.2023
The government could use a number of different ways to track down crypto tax evaders, CoinDesk was told

Brazilians may soon need to stump up taxes on crypto held abroad

30.11.2023
The new rules would make income from crypto held on exchanges outside Brazil taxable at the same rate as local income

Tax Crackdown: UK Authorities Target Crypto Users for Unpaid Taxes

29.11.2023
Image Source: Pixabay The UK national taxing authority has asked crypto users to disclose any unpaid taxes they might have in order to avoid fines. In a Wednesday announcement, HM Revenue and Customs (HMRC) asked crypto users to make a “voluntary disclosure of any unpaid tax” relating...