Search
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...
IRS Updates Instructions To Tax Individual Crypto Investors
5.1.2021
The US Internal Revenue Service (IRS) has released a new version of its draft instructions that clarify the definition of virtual currency. The tax agency aims to guide individual taxpayers on how to fill in the 1040 form that asks them whether they bought or sold cryptoassets last year, but...
Economics Professor Tyler Cowen Says Cryptos Useful as Hedges or Forms of Payments – ‘Not Both’
4.1.2021
Tyler Cowen, an economist and professor at George Mason University, has suggested that the key use cases of cryptocurrencies are mutually exclusive. He argues that cryptos can either be important inflation hedging tools or useful forms of payment but not both. The Regulation Threat The professor...
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
Indian Crypto Tax, Listed VR Company Diversifies Into Bitcoin + More News
29.12.2020
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Tax news
The Indian government could become the latest to impose a tax on crypto trading. In a report, the Times of India stated that politicians...
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...
India ponders Bitcoin tax law to target $5B market
29.12.2020
India’s government could levy taxes on Bitcoin trading despite the lack of legal clarity for the country’s crypto space
India Mulls Imposing 18% Tax on Bitcoin Transactions
29.12.2020
The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies
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...
Best Tax-Free Mutual Funds You Must Know About
24.12.2020
Investments are always considered as integral parts to save personal finance, but making the right investments is equally important to grow your savings. However, the downside of investments is that your high yield investment incomes are taxable as per the tax laws of the country where you reside....
A Synoptic Guide to the Top Tax-Free Mutual Funds
24.12.2020
Introduction Though a lot of people do not have an understanding of the retailer market function; however, when it comes to mutual funds, this is not the case. Mutual funds are highly popular among the public and retail markets. In simpler terms, in a mutual fund, a company brings together money...
Japan Leverages 80 Tons of Gold to Help Fund Part of Its Stimulus Package
21.12.2020
Japan’s finance ministry has reportedly leveraged 80 tons of gold to help fund part of its huge stimulus package aimed at combating the coronavirus crisis. The Asian country, which is saddled with public debt twice the size of its economy, is under pressure to find non-tax revenues to cover...
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
Russian President Vladimir Putin Signs Order Compelling Government Workers to Disclose Crypto Holdings
13.12.2020
Russian President Vladimir Putin has signed an order compelling the country’s government workers to disclose their cryptocurrency holdings. The order stipulates that employees must submit details of where they bought the digital assets and the value thereof by June 30, 2021. Similarly...