Search
10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS
27.7.2019
On July 26, the U.S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August....
Japanese Exchanges Ask Regulator to Make Cryptocurrency Tax Reforms
23.7.2019
Source: iStock/violet-blue
The self-governing Japan Virtual Currency Exchange Association (JVCEA) has asked the country’s top financial regulator to change the way cryptocurrency-related earnings are taxed.
The JVCEA represents all of Japan’s licensed cryptocurrency exchanges and a range...
Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status
13.7.2019
Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation...
US Lawmaker Reintroduces ‘Safe Harbor’ Crypto Tax Bill in Congress
10.7.2019
U.S. Congressman Tom Emmer has reintroduced his forked assets bill, an effort started in 2018 ostensibly to lessen the burden on crypto tax payers
IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users
9.7.2019
A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts...
Singapore Suggests Waiving GST On Cryptocurrencies Used As Exchange Medium
8.7.2019
Singaporean taxation body, the Inland Revenue Authority Of Singapore (IRAS) has suggested that the Goods and Services Tax (GST) must be lifted on all cryptocurrencies used as a medium of exchange. It published an e-draft titled “Digital Payment Tokens,” which asks the government to exempt...
Who Are the Real Thieves? Danish Authorities Seize 3 Ferraris in Tax Evasion Crackdown
8.7.2019
Last week Danish authorities seized three Ferraris belonging to a large Copenhagen-based business allegedly seeking to avoid VAT. With the largest bank in Denmark—Danske Bank—also being embroiled in a tax avoidance scandal last year, it seems timely to explore the common libertarian...
IRS 'Weeks Away from 3 Tax Bills' After Call from Pro-Crypto Activists
8.7.2019
America’s top tax authority, the Internal Revenue Service (IRS), will update its cryptocurrency guidelines “in the coming weeks,” per the Wall Street Journal – following a request put forward by United States parliamentarians.
The media outlet says that the IRS’ decision was made after...
Singapore Wants to Drop VAT for Transacting in Cryptocurrencies
8.7.2019
Singapore plans to exempt cryptocurrencies designed for payments from Goods and Services Tax (GST) — the local equivalent of VAT
Singapore Proposes to End GST Taxation on Cryptocurrencies
8.7.2019
The Singaporean government's taxation agency is proposing to exempt its goods and services tax (GST) on cryptocurrency transactions
Japanese Parliamentarian Wants Tokyo to Cut Crypto Tax
2.7.2019
Takesi Fujimaki. Source: Twitter / @fujimaki_takesi
A Japanese parliamentarian wants to bring about cryptocurrency tax reform – and tabled a petition on the matter with both houses of parliament.
Takesi Fujimaki, a former advisor to George Soros and an ex-JPMorgan Chase employee, is currently...
Node40 Executive Explains What to Expect When the IRS Issues Its New Crypto Policy
27.6.2019
Last May, the U.S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance. This...
PR: Bitcoin.com Announces Mining Partnership With Bit Mining
19.6.2019
Bitcoin.com and Bit Mining are excited to announce a business partnership focusing on BCH and BTC mining.A New BeginningThis joint endeavor is between Bitcoin.com, a company dedicated to spreading BCH and BTC adoption, and Bit Mining, a blockchain ecosystem builder with large mining farms spread...
Tax Agency: ‘Risk of Crypto Tax Non-compliance Is High in Canada’
14.6.2019
The Canada Revenue Agency (CRA), the country’s leading tax authority, has suggested that cryptocurrency taxation clampdowns are on their way. The agency hinted that individuals and businesses across the country will need to fall in line with compliance regulations – or potentially face...
Australia to Crack Down on Crypto Tax Avoidance Schemes
7.6.2019
The Australian Taxation Office is hunting down major tax avoidance schemes using cryptocurrencies, according to a report
What to Expect When the IRS Alters Its Bitcoin Tax Policy
7.6.2019
Coming guidance from the IRS is expected to clarify longstanding crypto tax questions. Here's what to look for
US Congressman Seeks Tax Clarity for Cryptocurrencies
6.6.2019
A U.S. congressman proposed tax breaks for cryptocurrencies, arguing that current IRS codes are unreasonably demanding and deterrents to blockchain businesses
Australia Investigating Major Tax Crimes as Part of Crypto-Focused Tax Enforcement Taskforce
6.6.2019
The Australian Tax Office is reportedly investigating 12 international tax avoidance schemes alongside its international partners, with a key focus on crypto-enabled activities
Tax Crackdown on Crypto: 60 Targets, 'Global' Institution Involved
6.6.2019
International coalition against crypto tax criminals, J5, is working on 60 investigations, while at least one "global financial institution" and its intermediaries are being targeted among others, a member of J5, the Australian Taxation Office (ATO), confirmed.
The ''global" institution and...
Japan: Tax Authorities Say Crypto Traders Owe Them $93 Million
5.6.2019
Tax authorities in Japan say cryptocurrency traders have failed to report gains valued at $93 million over the past several years