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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 &...
Argentinean Tax Body Asks Domestic Cryptocurrency Exchanges to Report Monthly Transactions and Wallet Balances
14.5.2021
The local tax authority could soon hunt tax evaders who trade cryptocurrencies in Argentina following a notice sent to domestic crypto exchanges. The Federal Administration of Public Revenue (AFIP) ordered them to report all virtual currency-related transactions every month. Payment Gateways...
Binance Faces DOJ Probe as Investigators Target Crypto Money Laundering and Tax Evasion
13.5.2021
Binance, one of the largest cryptocurrency exchanges in the world, is now being probed by the Department of Justice (DOJ) under the assumption that it could be immersed in money laundering transactions. The investigation will also include inquiries from the Internal Revenue Service (IRS), which...
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
One of Africa’s Oldest Wildlife Conservancies Accepts Crypto Donations
10.5.2021
One of Africa’s biggest wildlife conservancies, the Virunga National Park, which is situated in the Democratic Republic of Congo (DRC), says it now accepts donations via cryptocurrency. It says such donations will be used in helping to protect DRC’s famed “mountain gorillas...
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...
South Korean Bitcoin miners can deduct electricity costs from crypto tax filings
6.5.2021
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022
Court orders Kraken to provide information on user transactions to the IRS
6.5.2021
A court in northern California has ordered Kraken to provide info on users who traded more than $20,000 between 2016 and 2020 to the IRS
South Korean Crypto Tax U-Turn Looking Unlikely, Despite Outcry
5.5.2021
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned...
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...
Spanish Healthcare Group to Accept Cryptocurrency Payments, Citing Interest in ‘Bitcoin Revolution’
4.5.2021
Cryptocurrency regulation is still an ongoing topic for the Spanish government and regulators, with some not too friendly measures against crypto ads or enhancing tax rules. However, adoption is on the rise in different industries, and the healthcare sector is joining the frenzy. Patients Could...
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....
Survey shows South Koreans support crypto tax law
3.5.2021
More than half of the survey respondents favored the controversial crypto tax law in South Korea
Biden’s capital gains tax plan to pull crypto down to earth from the moon?
30.4.2021
More taxes may cause short-term volatility, “but long term, you may see more demand for DeFi applications and other collateralized use cases.”
UK Taxman Gears up for Assault on Crypto-holding Tax Evaders, Say Accountants
29.4.2021
A British chartered accountancy company says that UK tax authorities will quiz suspected tax evaders on their crypto holdings – to determine if individuals are seeking to avoid paying tax by making crypto purchases.
In a press release shared with Cryptonews.com, the accountancy, UHY Hacker Young...