Bitcoin Bull’s $800,000 Tax Bill Due as Israeli Court Rules Crypto is ‘Property’

2019-5-22 15:39

By CCN: An Israeli court has ruled that Bitcoin is not a currency but rather an asset. This was in a case brought forth by Noam Copel, a blockchain entrepreneur, according to business publication Globes.

The ruling means that Copel will pay taxes of New Israeli Shekel (NIS) 3 million ($830,115). This is after making profits of over NIS 8 million ($2. 2 million) trading bitcoin six years ago. In the course of presenting arguments, Copel had made the case that bitcoin should be classified as a foreign currency. The country’s tax collection agency, Israel Tax Authority, had made the opposing

The post Bitcoin Bull’s $800,000 Tax Bill Due as Israeli Court Rules Crypto is ‘Property’ appeared first on CCN

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Источник: ccn.com

bitcoin tax → Результатов: 126

The Urgent Need for Bitcoin Tax Reform to Encourage Everyday Use

An argument for why tax treatment of bitcoin is a massive disincentive for its use in commerce.

2024-9-16 19:21	Politics
bitcoin tax use treatment massive disincentive commerce

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US Congressman introduces bill to allow IRS accept Bitcoin for tax payments

US Congressman Matt Gaetz has introduced legislation that would require the IRS to accept tax paid with Bitcoin. If enacted into law, American taxpayers will have the option to pay taxes in BTC. US Representative Matt Gaetz (R-FL),has introduced a new bill that could see Americans pay their income tax with Bitcoin.

2024-6-26 22:34	Markets
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Bitcoin ‘Underperforms’ During Tax Time: Analysis

Bitcoin's price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.

2021-1-28 00:42
bitcoin tax gains realized year selling bills

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India considers proposal to tax Bitcoin transactions at 18%

The Indian Government has moved towards potentially implementing a tax of 18% on Bitcoin trading in the country. According to reports, the central government is currently weighing a proposal to impThe post India considers proposal to tax Bitcoin transactions at 18% appeared first on AMBCrypto.

2020-12-29 09:30	News
bitcoin tax proposal government transactions considers india

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Microsoft employee sentenced to 9 years in first U.S. Bitcoin case involving tax fraud

A Ukrainian national has been sentenced to nine years in prison in what the IRS is describing as the United States’ “first Bitcoin case [with] a tax component.”

2020-11-11 03:52
bitcoin tax case years sentenced irs component

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Bitcoin Critic Peter Schiff’s Bank Under Spotlight in Global Tax Probe

A Puerto Rico-based bank founded by long-time bitcoin skeptic Peter Schiff is under investigation over suspicions it facilitated tax evasion.

2020-10-19 11:26	Peter Schiff
bitcoin tax under bank peter schiff skeptic

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Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus

Kazakhstan has proposed legislation that would see a 15% tax imposed on bitcoin mining firms. This is part of efforts to raise money to help with the fight against the coronavirus pandemic. Proposed by the country’s Ministry of Economy, the new tax plan requires bitcoin (BTC) miners to first file an application for registration with […] The post Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus appeared first on Bitcoin News.

2020-8-12 05:00
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Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20%, Cites Crypto-Divide

Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets.

2020-6-6 17:05
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Bitcoin Cash 'Sleeper' Tax Remains Hot Issue for BCH Community

Bitcoin Cash supporters demand to know why a controversial miner’s tax remains in the code for its May network update

2020-4-16 21:30	Taxes
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Roger Ver: I Didn’t Sign 12.5% Bitcoin Cash (BCH) Miner Tax Proposal

Bitcoin Cash (BCH) proponent Roger Ver says neither he nor Bitcoin. com endorsed the controversial 12. 5% BCH miner tax. Meanwhile, Bitcoin ABC is proposing a new dev funding plan which reduces the tax rate to 5% of the block reward.

2020-2-18 17:00	Roger Ver
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Bitcoin Cash Dev Tax Could Have Serious Impact on Bitcoin Mining

Miners claiming to represent the majority of Bitcoin Cash’s (BCH) hash rate intend to implement a plan to tax other miners in the community. Most remarkably, this tax could also affect all cryptocurrencies that share the SHA256 algorithm, including Bitcoin.

2020-1-31 22:00	Roger Ver
bitcoin tax could cash miners community remarkably

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Why the Bitcoin Cash ‘Dev Tax’ is a Colossal Mistake

The proposal to create a special “developer tax” could split the Bitcoin Cash community, and do more harm than good. Peter Rizun, the chief scientist at Bitcoin Unlimited, commented on the intention to bring miners under a centralized authority.

2020-1-27 16:00
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New Hampshire’s Second Bill to Accept Bitcoin as Tax Payment Fails

New Hampshire state representatives have killed the legislature’s second attempt to accept crypto tax payments, saying that Bitcoin’s volatility is too high

2020-1-17 15:24	USA
bitcoin tax new accept second hampshire saying

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How To Minimize Your Bitcoin Tax Liability Before The New Year

Calculating cryptocurrency taxes and pulling together all the necessary information for tax reporting is never the most exciting thing for bitcoin investors. The whole process can be painful – especially if you have been trading across multiple exchanges.

2019-12-20 21:22	Taxes
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Bitcoin And Crypto Compliance From A US Tax Perspective

One of the things which causes undue consternation for many holders of Bitcoin and cryptocurrency is its taxable status. While some naysayers still consider the whole industry a tax avoidance scheme, most users just want to make sure they comply with the rules.

2019-12-5 16:00	IRS
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Tax Authorities Are Making Bitcoin Unspendable

Bitcoin’s lack of widespread acceptance by merchants and use by shoppers isn’t just because of the perceived technological barriers and a lacking ecosystem. Tax complications also plague would-be BTC spending.

2019-11-29 23:40	tax
bitcoin tax isn authorities making unspendable widely

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Singapore Ponders Bitcoin (BTC) Tax Exemption in Regulatory Scheme

Singapore’s government appears set to offer tax exemptions for bitcoin and other cryptocurrencies based on a draft document published by the country’s tax body. The proposed perpetual tax holiday will reportedly apply to virtual currencies deemed to be digital payment tokens and will come into effect in 2020 if approved.

2019-7-9 17:59	Singapore
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Bitcoin Taxes: 61% of Holders Won’t Report Losses to IRS

The US tax season has begun, and this might finally be the year to declare your bitcoin and crypto-assets. Sure, bitcoin taxes can be complicated, but research suggests that 61% of holders don’t realize they can write off last years losses as a tax deduction.

2019-1-30 09:00	IRS
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Overstock Wants to Pay its Ohio Business Tax in Bitcoin

Online retailer Overstock announced it would pay a part of its Ohio state business tax using bitcoin, making it the first company to use Ohio’s crypto tax portal, Fortune reported on January 3, 2019.

2019-1-5 21:30	Taxes
bitcoin tax ohio new overstock company use

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Finland Hands Over Info for 2,700 Danish Traders to Denmark’s Tax Agency

Finnish tax authorities have handed over information on 2,700 bitcoin traders to its Danish counterpart, Skattestyrelsen (SKAT). According to a press release, the traders used an undisclosed Finnish exchange to collectively purchase and sell some $15.

2018-12-14 03:12	Bitcoin
bitcoin tax information traded exchange traders taxable

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Tax Time! How to Calculate Your Bitcoin and Cryptocurrency Losses

Do you have big Bitcoin trading losses for 2018? Do you need expert guidance in assembling the forms and documents needed for tax prep? Learn more now! The post Tax Time! How to Calculate Your Bitcoin and Cryptocurrency Losses appeared first on CoinCentral.

2018-12-5 22:32	Taxes
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Bitcoin, Blockchain and Cryptocurrency News For Today November 26th [VIDEO]

Do You Owe Tax Money In Ohio? You Can Now Use Bitcoin As Settlement! Do You Owe Tax Money In Ohio? You Can Now Use Bitcoin As Settlement! Bitcoin ABC's Bitcoin Cash Software Enhancement Prevents Chain Reorganizations Bitcoin ABC's Bitcoin Cash Software Enhancement Prevents Chain Reorganizations Crypto Market Sees Major Sell Off Causing Tokens To […]

2018-11-27 22:42	News
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Ohio Gives Green Light to Paying Taxes With Bitcoin

Ohio is now setting up an official website to allow businesses to pay taxes with bitcoin. According to a recent article published by the Wall Street Journal (WSJ), the state of Ohio seems to have given tacit acceptance to bitcoin by allowing businesses, although not individuals, to pay all manner of taxes with the cryptocurrency.

2018-11-27 21:32	Adoption
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Law Firm: South Africa’s Draft Tax Law Could Affect Cryptocurrency Use

A South African law firm has published a short essay on proposed tax legislation for cryptocurrency in the country. Cox Yeats Attorneys, a Durban-based firm, argues that the Taxation Laws Amendment Bill, published by the National Treasury in July, will be bad for the digital asset industry, according to local media reports.

2018-11-26 18:15
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Ohio Passes Law to Facilate Payment of Tax Through Bitcoin

While the crypto market continues to see an abundance of red on the charts, it received a massive nod of approval on November 25, 2018. The Wall Street Journal reports the U. S. state of Ohio is set to become the first in the country to allow payment of taxes through bitcoin.

2018-11-26 18:00	tax
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Bitcoin Price Analysis: BTC/USD Stable at $4,000, Paraguay Gives Green Light For the World’s Largest Crypto Mining Center

Latest Bitcoin News Coinciding with BTC market pull back is morale boosting news that the US state of Ohio will begin accepting tax payments in Bitcoin. Spearheading this drive is the State Treasurer, Josh Mandel, who term the move efficient, secure, transparent and cheap especially for merchants and businesses that in days to come will […] The post Bitcoin Price Analysis: BTC/USD Stable at $4,000, Paraguay Gives Green Light For the World’s Largest Crypto Mining Center appeared first on Ethereum World News.

2018-11-26 17:10
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Ohio Starts Accepting Bitcoin for Tax Payments

Ohio has become the world’s biggest jurisdiction and the first US state to accept bitcoin for tax payments from any business in the area. Any of the nearly 12 million... The post Ohio Starts Accepting Bitcoin for Tax Payments appeared first on Trustnodes.

2018-11-26 15:47	USA
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Ohio set to become first US state to accept Bitcoin for taxes

In what could be the biggest institutional nod of approval to cryptocurrencies across the globe, Ohio is set to become the first state to accept Bitcoin for tax payments. Starting this week, Ohio businesses can pay anything from tobacco to public utilities tax on OhioCrypto.

2018-11-26 13:42	hard fork
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First US State Officially Starts Accepting Bitcoin for Tax Payments

CoinSpeaker First US State Officially Starts Accepting Bitcoin for Tax Payments Starting from today, Ohio businesses can pay taxes with Bitcoin. The authorities will use crypto payment processor BitPay which will handle the payment in crypto and conversion to dollars for the tax office.

2018-11-26 12:02	BTC
bitcoin tax officially payments starts accepting state

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Good News: First US State Officially Starts Accepting Bitcoin for Tax Payments

CoinSpeaker Good News: First US State Officially Starts Accepting Bitcoin for Tax Payments Starting from today, Ohio businesses can pay taxes with Bitcoin. The authorities will use crypto payment processor BitPay which will handle the payment in crypto and conversion to dollars for the tax office.

2018-11-26 12:02	BTC
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Ohio ‘Plants a Flag’ For Bitcoin Adoption, Accepting BTC for Taxes

In what could be a further critical sign of cryptocurrency adoption in the U. S, businesses in Ohio will shortly be able to pay their taxes online using Bitcoin. The progression will be rolled out to personal taxpayers at some point in the future.

2018-11-26 10:00
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Ohio to accept Bitcoin (BTC) for tax bills

According to the WSJ report on November 25, Ohio appears set to become the first state to accept Bitcoin (BTC) for tax bills. Beginning this week, Ohio businesses will be able to go to the website OhioCrypto.

2018-11-26 08:39	Taxes
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Even though bitcoin is “dead again”, you can now pay taxes with it in a big US state

nitialization eligible for damages. Major US state to start accepting tax payments in Bitcoin In news that definitely screams “real world” cryptocurrency adoption, US state of Ohio will give its tax payers an option to pay their taxes with Bitcoin.

2018-11-26 02:29	Crypto Journal
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Sweden Braces For Migrant Caravan Of Norwegian Bitcoin Miners

Data center managers in Sweden are expecting a deluge of inquiries from cryptocurrency mining operations in Norway. The Norwegian authorities this week revoked energy tax subsidies for the sector, throwing the future of many companies into doubt.

2018-11-24 15:00	sweden
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Norway Has Change Of Heart For Bitcoin Miners As Country Halts Its Power Tax Subsidy

Crisis Ahead: Norway Ends Power Tax Subsidy For Bitcoin Miners When you hit rock bottom, it can only get worse, or at least is what the Bitcoin miners in Norway must be thinking right now. The Norwegian government has decided that it no longer supports BTC mining and has decided to cut the power subsidy […]

2018-11-23 08:05	News
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Norway Ends Power Tax Subsidy for Bitcoin Miners

The Norwegian government has scrapped a subsidy on electricity tax for cryptocurrency miners in its state budget, a report says.

2018-11-22 17:35
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Spain Monitors 15,000 Cryptocurrency Investors to Curb Tax Evasion

Spain’s Ministry of the Treasury has identified 15,000 cryptocurrency investors it will monitor to prevent tax evasion and money laundering, according to local media reports. The ministry has vowed to ensure that the investors pay taxes on capital gains from digital currency transactions and that they declare any other benefits accrued from trading.

2018-11-22 04:10
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Spain: Financial Watchdog Intensifies Efforts to Make Cryptocurrency Holders Pay Tax

It may soon no longer be business as usual for bitcoin (BTC) and altcoins investors in Spain as the nation’s tax authority, the Agencia Estatal de Administracion Tributaria (AEAT), has reportedly identified at least 15,000 distributed ledger technology (DLT) based virtual currency holders and is now set to make them pay taxes, reported Finance Magnates on November 20, 2018.

2018-11-22 01:00	tax
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Australian Tax Regulator Warns Against Tax Payment Scams Involving Bitcoin ATMs

As tax payment draws near, the Australian Taxation Office is warning taxpayers against imminent tax scams involving the use of Bitcoin ATMs. Details of the Warning According to an article published by the Australian Taxation Office (ATO) on its homepage, Australian taxpayers are warned to be on the alert for possible tax scams.

2018-11-16 15:38
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Poles to Pay 19% Tax on Income From Cryptocurrency Transactions

The government of Poland recently submitted amended income tax regulations for approval by President Andrzej Duda. The updated framework, which includes provisions referring to cryptocurrencies, is expected to enter into force on Jan.

2018-11-16 13:40
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Miner Abandons Swedish County, Leaves $1.5M in Unpaid Electricity Bills

Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U. S. miner NGDC, appears to have suddenly fled from the area, leaving $1.

2018-11-16 00:35
unpaid bills miner electricity county companies abandons

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Taxman could collect millions within 48 hours of Bitcoin Cash fork

CryptoNinjas One of the least talked about but most significant consequences of the Bitcoin Cash fork will be the tax authorities collecting millions from the individuals involved, according to cryptocurrency taxation experts NODE40.

2018-11-15 21:43
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Seba Crypto Expects Swiss Banking License, Independent Reserve Integrates Tax Tool

In recent exchange news, Seba Crypto AG has predicted that it will receive a Swiss banking license within the first half of 2019. We also look at the Independent Reserve, which has integrated a tax estimator tool into its user interface, as well as Point95 Global, which has announced plans to launch a “crypto quantitative […] The post Seba Crypto Expects Swiss Banking License, Independent Reserve Integrates Tax Tool appeared first on Bitcoin News.

2018-11-15 18:10	tax
crypto tool seba reserve tax independent swiss

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Op Ed: Cryptocurrency’s Unrealized Opportunities for U.S. Tax Professionals

The market for cryptocurrency tax services is growing rapidly, and it is providing forward-thinking tax professionals with an opportunity to capture oversized profits.

2018-11-15 16:58	Op-ed
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KPMG launches Bitcoin tax estimator for Australian hodlers

In some countries you are liable for capital gains tax on any profits you make on your cryptocurrency hodlings. Calculating how much you owe can be confusing, but it just got a bit easier for Australian cryptocurrencers.

2018-11-15 12:45	hard fork
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Bitcoin ATMs Most Common Scam Payment Method in Australia

The Australian Taxation Office (ATO) has warned taxpayers to be “on high alert” for phone scammers demanding payment through bitcoin ATMs. It said payments via BTC cash machines have now overtaken iTunes vouchers as the most common method of scam payment reported to the tax authority.

2018-11-15 07:35	Visa
bitcoin payment method scam atms most common

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Australian bitcoin exchange Independent Reserve rolls out Crypto Tax Estimator by KPMG

CryptoNinjas KPMG Australia and Independent Reserve, the largest Australian cryptocurrency exchange, today announced the launch of a new tool to help the traders of cryptocurrencies better understand their tax liabilities.

2018-11-15 02:32
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Australia Warns: Fake Tax Payment Demands through Bitcoin ATMs Becoming Popular

Scammers seem to find any possible outlet to steal the cryptocurrency of investors. Twitter has been the biggest opportunity for these frauds to get through, but Australia has found that the hackers are finding a new method of tricking consumers – Bitcoin ATMs.

2018-11-14 22:13	News
australia atms bitcoin through hackers new finding

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Bitcoin Investors and Traders Are Evading Crypto Taxes with a Little-Known ‘Lending Loophole’

In a recent article published by Venture Beat a few days ago, there are some cryptocurrency traders that are avoiding taxes in their country. At the moment, every single crypto-to-crypto trade is considered a taxable event.

2018-11-14 18:27	News
beat venture bitcoin taxes traders considered event

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