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Tax Expert: IRS Letters Confirm That Trading Cryptos Is a Taxable Event
5.8.2019
The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters...
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....
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...
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...
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
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...
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
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
Japan’s Crypto Traders May Face Closer Scrutiny Over Tax Avoidance
5.6.2019
Japanese tax authorities are said to be planning to take action on the under-reporting of cryptocurrency-based profits
Israeli Court Rules Bitcoin Is an Asset in Feud Over Tax Payment
22.5.2019
An Israeli court has ruled against an investor in declaring bitcoin is an asset and not a currency, and thus subject to capital gains tax
Israeli Court Rules Bitcoin Is an Asset
22.5.2019
An Israeli court has ruled that bitcoin is an asset, confirming the central bank’s stance. The case involves the country’s tax authority and the founder of a blockchain startup who argues that profits from the sale of cryptocurrency should be tax-free. The court has ruled in favor...
IRS Plans to Issue Guidance on Virtual Currency Taxation
21.5.2019
Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official...
Internal Revenue Service is All Set to Release Crypto Tax Guidelines
21.5.2019
The Internal Revenue Service recently announced that it would be fixing the new guidelines for tax on crypto. Because the IRS identifies crypto as property and not currency, it is because it is taxable to purchase and sell crypto. Consequently, tax rules which apply for property transactions, such...
Congressman Emmer to Reintroduce Tax Bill Focused on Crypto Hard Forks
15.5.2019
U.S. Representative Tom Emmer plans to reintroduce a bill that would benefit taxpayers holding cryptos resulting from blockchain hard forks
Bitcoin Banking, Solving ID Theft, and Why Regulators Should Love Pasties
23.3.2014
John Law wonders if cryptocurrencies could secure your cash, BLTs could protect your ID and bitcoin is wrongly named