Tag: tax

Aug 26 2022

Japan To Reform Crypto Corporate Tax Laws

Aug 26 2022 Published at Bitcoinist.com under tags  btcusd btcusdt crypto news japan tax

The Japanese government has announced that it shall be evaluating the crypto tax rules which are applicable for corporations in the fiscal year of 2023. The Financial Services Agency and the Ministry of Economy, Trade and Industry (METI) will be carrying out the assessment of how these digital asset corporations will...

Jul 15 2022

New High Tax Rate On Crypto Miners In Kazakhstan, Here’s Why

Jul 15 2022 Published at Bitcoinist.com under tags  crypto crypto news kazakhstan mining tax

Kazakhstan has imposed new tax rules on crypto miners, this new taxation system shall be differentiating the tax rates on crypto mining. It also includes crypto miners that use renewable energy resources. President of Kazakhstan...

Jun 06 2022

Indian Terra investors facing 30% tax on LUNA 2.0 airdrop despite losses

Jun 06 2022 Published at CryptoSlate under tags  crypto tax india tax taxes terra

After losing millions to Terra's crash, Indian investors who have recovered part of their losses through the LUNA 2.0 airdrop may have to pay taxes equivalent to 30% of the value due to India's...

May 25 2022

Thailand Readies Itself For Digital Economy, Removes Crypto Transfers From VAT Till End Of 2023

the Royal Thailand Government Gazette has legally established a VAT exemption for crypto transfers lasting until the end of 2023. In March, the cabinet granted an exemption from the value added tax (VAT) for exchanging cryptocurrency or digital tokens. The decision was enacted into Thai law yesterday and will be in force until December 31, 2023. Thailand Royal Decree Gives Tax Break For...

May 23 2022

Portugal: What Fixing the Legal Loophole on Crypto Means for Traders and Investors

Not so long ago, Portugal was being applauded as being one of the world’s top destinations for cryptocurrencies. The European country which allowed crypto investors, traders and enthusiasts alike t...

May 13 2022

Germany Announces, No Tax On Crypto Sales For Investors Holding For 1 Year

According to Katja Hessel, German Parliamentary State Secretary, crypto traders can get tax exemption benefits on the sale of digital currencies. Furthermore, if they have held onto their assets for one year or more, they will not have to pay taxes on the money they make from the crypto sales. The Federal Finance Ministry of Germany issued 24 pages of...

May 10 2022

Indians to face additional 28% tax on crypto

May 10 2022 Published at CryptoSlate under tags  crypto tax india tax taxes wazirx

Authorities in India are looking to introduce an additional 28% Goods and Services Tax on cryptocurrencies, CNBC reported. India’s new 28% tax for crypto...

Apr 28 2022

Argentina considering switching all operations to distributed-ledger technology

Apr 28 2022 Published at CryptoSlate under tags  adoption argentina buenos aires crypto tax

On Monday, Mayor Horacio Rodríguez Larreta of Buenos Aires, the capital of Argentina, announced that the city is on the verge of recognizing crypto as a medium that could be used for various financial transactions, including tax payments, according to local media reports. This surprising move is part of the...

Mar 23 2022

Mar 08 2022

Five Ways to Reduce Annual Crypto Taxes in the US

Mar 08 2022 Published at Altcoin Buzz under tags  bitcoin & crypto guide crypto irs tax taxes

The month of April is rapidly approaching and that brings ominous clouds for many who have to pay their crypto taxes. Here are five ways to minimize that tax burden. Tax season is upon us once again, and the United States Treasury is eyeing revenue from crypto gains more than ever. Cryptocurrency holders and investors in the U.S. need to...

Feb 15 2022

Your 2021 Crypto Taxes: How to Handle NFTs, DAOs, Airdrops and More

Feb 15 2022 Published at Unchained Podcast under tags  1099 2022 airdrops cointracker irs

Two crypto tax experts, Shehan Chandrasekera, certified public accountant and head of strategy, Tax, at Cointracker, and John Cardone, senior director of Washington National Tax at RSM US LLP, explain everything crypto traders need to understand when filing taxes for 2021. Show topics: the five types of transactions that constitute...

Feb 09 2022

Crypto Tax: Venezuelans To Face 20% Tax on Crypto Transactions

Crypto tax is trending across the globe as more and more country are revealing their crypto taxation policy. The latest addition to list is...

Feb 03 2022

IRS signals tax case retreat on staking, but the rules haven’t changed for everyone else

Feb 03 2022 Published at CryptoSlate under tags  crypto tax irs lawsuit legal legislation

In 2019 Joshua Jarrett earned block rewards on proof-of-stake networks, paid taxes as if those rewards were income, and in line with IRS’ limited guidance on how block rewards should be taxed. However, Jarrett also asked for a refund, arguing that the rewards should be treated as newly created property and therefore shouldn’t be taxed until he sells them. The IRS denied that...

IRS Will Not Tax Unsold Staked Crypto As Income

For individuals hoping to earn new tokens by providing security to large blockchains that use proof-of-stake, there may be good news ahead. IRS will not tax your unstaked crypto. A Nashville couple argued in May that tokens obtained through proof-of-stake protocols are taxpayer-created property that should not be taxed until they are sold or exchanged. The choice to refund may help to clarify...

Feb 01 2022

India to Tax Crypto Gains at 30%, No Exemption Is Allowed

The Indian government has specified its taxation rule for cryptocurrencies. It will impose 30 percent taxation on the transfer of virtual assets from the financial year 2022-2023, Finance Minster N...

Jan 20 2022

HIFO: The Tax Loophole That Could Be Helping Bitcoin Investors This Tax Season

Jan 20 2022 Published at Bitcoinist.com under tags  altcoins bitcoin bitcoinist tax

'Highest in, first out' aka HIFO is a tax accounting method that can be a very good thing to know as an investor dabbling In crypto this past year. As we approach tax season and related questions continue to rise to the top, let's take a look at a tax methodology that we are seeing mentioned more and more. 'Peep The Tax Methodology'...

Dec 29 2021

What Is Crypto Tax And Crypto Regulation?

The global adoption of cryptocurrencies continues to rise, as digital assets have proven that they are here to stay. The rise of its fortunes and popularity continues to be a good thing. There seem to be some issues surrounding the growth of the space. One of such issues is Crypto Tax and Regulation. The financial regulators of many nations are still struggling to...

Nov 27 2021

NFTs In A Nutshell: A Weekly Review

Despite the holiday week, NFTs still found plenty of headlines this week, as we close out November. Musician's engagement was a particular focus this week, as a number of different artists announced or released projects this past week. Meanwhile, at a 30,000 foot view, countries across the globe continue to have their own respective battles about taxation of NFTs. We're looking at some...

Nov 16 2021

Nov 15 2021

Senators Seek To Amend Bitcoin Reporting Changes In Infrastructure Bill

A bipartisan team of US senators is introducing a bill to clarify what entities should report cryptocurrency transactions to the IRS.A bipartisan team of U.S. senators is introducing a bill to restrict tax reporting rules present in the infrastructure bill, which is set to become law today.The infrastructure bill’s text extends cash-focused section 6050I to contemplate cryptocurrency...

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