Indonesia and Australia sign agreement on crypto taxation

Indonesia and Australia’s tax officials signed an agreement in Jakarta on April 22 to establish a crypto information-sharing framework. This agreement, unveiled on April 23, aims to improve the identification of assets that may be taxed in either country. It… дальше »

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Sweden Clarifies VAT Rules for NFTs and Digital Works

Sweden's tax authority defines VAT treatment for NFTs linked to digital works, clarifying taxation on ownership. The post Sweden Clarifies VAT Rules for NFTs and Digital Works appeared first on NFT News Today. дальше »

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Bitcoin and Taxation: Government On A Bitcoin Standard

Some thoughts on the difficulty of governments enforcing taxation in a world where Bitcoin is widely used in commerce. дальше »

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How South Korea Plans to Build a Robust Crypto Taxation System

Amid Bitcoin's record highs and increasing crypto investments, South Korea targets 2025 to unveil a system ensuring fair taxation and combating illegal activities in the virtual asset sphere. The post How South Korea Plans to Build a Robust Crypto Taxation System appeared first on BeInCrypto. дальше »

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Indonesia Looks to Review Crypto Tax Rules to Capitalize on Bull Market

Indonesia embarks on a strategic review of its crypto taxation framework to align with industry growth and enhance its digital economy. The move signals a commitment to leveraging crypto market booms for national revenue. дальше »

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Indonesia’s Crypto Evolution: Government Eyes Changes In Taxation Landscape

Indonesia’s crypto market faces a period of change and reassessment, as evidenced by falling tax revenue and planned regulatory shifts. While Bitcoin surged in value throughout 2023, the country’s crypto tax revenue plummeted by over 60% compared to the previous year, raising concerns about the effectiveness of the current tax regime. Related Reading: Former FTX, […] дальше »

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Indonesia considers easing crypto taxation 

Indonesia witnessed a notable downturn in its crypto tax revenue in 2023, plunging by 62% compared to the previous year, despite the surge in Bitcoin's value. дальше »

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South Korea’s ruling party proposes delay in crypto taxation as election pledge

In a strategic move ahead of the upcoming general elections, South Korea’s ruling party, the People Power Party (PPP), has announced plans to push for a further two-year delay in the implementation of crypto taxation, local media reported Feb. дальше »

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South Korea considers further delay in crypto taxation ahead of general election

South Korea’s ruling People Power Party is proposing another delay in the implementation of cryptocurrency investment gains taxation, now potentially extending the start date to 2027. The move is part of the party’s campaign strategy for the forthcoming general election… дальше »

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Brazil to implement new tax on foreign crypto earnings in 2024

The Brazilian Senate has approved a new taxation policy, effective Jan. 1, imposing up to a 15% tax on earnings from crypto held in foreign exchanges. дальше »

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Turkey mulls addressing licensing and taxation in new crypto rule

Bora Erdamar from the BlockchainIST Center emphasized that upcoming crypto regulations prioritize specific licensing standards to prevent system abuse. дальше »

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U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules

A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime. дальше »

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Members of Congress urge revisions to Treasury’s ‘unworkable’ digital asset tax rules

Several American lawmakers voiced their concerns to the U. S. Treasury regarding a proposed taxation scheme for digital assets in a Nov. 15 letter, citing its potential to stifle innovation and adversely affect the digital asset ecosystem. дальше »

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Turkey Sets Sights On Crypto Control: New Era Of Licensing And Taxation Unfolds

In a move to regulate the crypto market in its region, Turkey is gearing up to implement new rules centered on “licensing” and “taxation.” This development comes as the country sheds its status on the Financial Action Task Force’s (FATF) “grey list,” which flags potential risks in money laundering and financial crimes. The upcoming regulations […] дальше »

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Blockchain Association opposes proposed IRS tax rules

The IRS introduced rules aimed at regulating the sale and exchange of digital assets by brokers. There has been widespread discussion about the future of crypto taxation in the country. The The post Blockchain Association opposes proposed IRS tax rules appeared first on AMBCrypto. дальше »

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Turkey seeks to exit FATF’s ‘grey list’ with crypto licensing and taxes

The country seeks to get out of FATF’s “grey list” by putting more regulatory burden on crypto. Turkey is set to double down on crypto taxation and licensing to persuade the Financial Action Task Force (FATF) to remove it from… дальше »

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IRS 'Raided' by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal

The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency's proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto projects. дальше »

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How to manage crypto losses on tax returns in the US, UK and Canada

Unlock the complexities of cryptocurrency taxation and learn how crypto losses impact your tax liability in the United States, United Kingdom and Canada. дальше »

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Turkey plans to announce crypto regulation and taxation in 2024

Turkey sets its sights on implementing cryptocurrency taxation and other regulatory measures as part of its 2024 Presidential Annual Program. дальше »

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DOGE Creator Pours Criticism on US Taxation System: Details

Dogecoin creator, who resides in California, slams US system of taxes for targeting elderly дальше »

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EU adopts directive for stronger member collaboration on crypto tax data sharing

The Council of the European Union (EU) has adopted a directive to enhance cooperation amongst national taxation authorities, particularly on crypto-assets transactions. The Oct. 17 announcement signifies a significant shift in the regulatory landscape of EU’s crypto-assets, demonstrating a proactive approach towards the rapidly digitalizing economy. дальше »

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Senators ask U.S. Treasury, IRS to speed up crypto taxation rules

Given the Treasury's delay, the proposed crypto taxation rules could not be implemented until 2026. The representatives asked the agencies to provide an update by 24 October. A group of U. дальше »

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Bank Of Brazil To Introduce Tougher Crypto Regulation After Increased Adoption

On Wednesday, September 27, Roberto Campos Neto, Brazil’s central bank governor, announced his intention to tighten crypto regulation. During his speech on Finance and Taxation at a Congress hearing, Campos Neto said virtual assets brokerages should be subject to strict supervision. дальше »

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Concerns grow over U.S. crypto market losing ground

The onslaught of SEC lawsuits, ambiguous taxation rules, and strict regulations are stirring unease in the American crypto community, possibly endangering the U.S. dominance in the crypto realm. дальше »

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Metaverse taxation: integrating virtual world into current tax policies

With the metaverse booming to 400 million users, the challenge arises: how do we tax this burgeoning virtual world? дальше »

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How to handle crypto trading gains and losses on your balance sheet

Cryptocurrency taxation and reporting transactions on your balance sheet differ. Here’s how to treat cryptocurrency on your balance sheet. дальше »

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Harvard scholar calls for prompt taxation of metaverse earnings

A Harvard scholar argues that the authorities should swiftly introduce taxation on Metaverse earnings to potentially enhance governmental revenue streams. дальше »

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Harvard Scholar Urges Immediate Taxation of Metaverse

A Harvard scholar suggests that governments should tax income earned in the Metaverse immediately upon receipt to modernize the tax system and prevent it from becoming a tax haven. The post Harvard Scholar Urges Immediate Taxation of Metaverse appeared first on BeInCrypto. дальше »

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Failure to tax the metaverse ‘will create a tax haven’ — Harvard legal expert

Harvard scholar Christine Kim writes that income and wealth in the metaverse should be subject to immediate taxation.

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CoinSwitch downsizes customer support amid CoinDCX layoffs

Major Indian crypto exchange CoinSwitch has laid off some members of its customer support team amid uncertain crypto regulation and stringent crypto taxation. CoinSwitch, a crypto exchange backed by Andreessen Horowitz and Coinbase Ventures, has axed 44 employees from the… дальше »

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Indian PM Modi calls for global cryptocurrency framework at G20 Summit

India has advocated for a global crypto framework for years despite its own crypto ecosystem still lacking a clear regulatory framework and simpler taxation. дальше »

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Rep. Patrick McHenry calls proposed crypto tax rules an ‘attack on the digital asset ecosystem’

Patrick McHenry, Chairman of the House Financial Services Committee, commented on newly proposed crypto taxation rules on Aug. 25. The IRS, along with the U. S. Treasury, proposed those taxation rules earlier in the day. дальше »

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Brazil to tax crypto held abroad by citizens

The Brazilian Congress is pushing forward legislation allowing for the taxation of crypto assets held abroad by citizens of the South American country. According to the local press, Brazilian lawmakers on Aug. дальше »

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New IRS Guidelines on Taxation of Cryptocurrency Staking Rewards: What You Need to Know

IRS releases tax guidance on staking.

The post New IRS Guidelines on Taxation of Cryptocurrency Staking Rewards: What You Need to Know appeared first on BeInCrypto.

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Staking rewards are now taxable, says IRS

The Internal Revenue Service (IRS), the leading tax authority in the United States, recently released Revenue Ruling 2023-14, providing clarity on the taxation of income derived from crypto staking.  The ruling categorizes cryptocurrency staking rewards, along with various other income… дальше »

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Israel Consults Public on DAO Regulation, Sets Up Special Examination Team

The team will examine required corporate status, taxation other aspects of DAOs to "create legal certainty" and reduce risks, the government has said. дальше »

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Coinbase CEO to discuss crypto legislation with US lawmakers

Coinbase CEO Brian Armstrong will meet the United States House Democrats on Wednesday to discuss various issues in the digital asset industry, including crypto taxation, privacy, and national security. дальше »

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Shaping Crypto Tax Laws: US Senate Panel Seeks More Investor Input

Crypto tax laws have taken a positive turn as United States Senate Financial Services Committee Chair Ron Wyden and ranking member Mike Crapo recently published an open letter aimed at soliciting feedback from the digital asset community regarding the taxation of digital assets. дальше »

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Nigerian crypto tax move is ‘premature’ — Local stakeholders

Industry stakeholders seek clarity regarding the implications of taxation and its connection to the recognition of cryptocurrency and associated procedures. дальше »

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IMF eyes tens of billions in crypto asset taxes, has few suggestions for collecting them

Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it. дальше »

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Tax experts challenge HMRC’s proposed tax framework as ‘Not fit for purpose’

Accounting service leaders in the UK have disputed HMRC’s proposed taxation framework for decentralized finance (DeFi) transactions, labeling it as “not fit for purpose.” In a letter sent to HMRC, the UK’s tax authority, written by experts, including tax calculation software provider Recap and chartered accountants, Wright Vigar highlights the need for a more nuanced […] The post Tax experts challenge HMRC’s proposed tax framework as ‘Not fit for purpose’ appeared first on CryptoSlate. дальше »

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Slovakian Lawmakers Pass Amendment Lowering Cryptocurrency Taxation

Lawmakers in Slovakia have approved new legislation, with a resounding 112-2 vote in favor, aimed at reducing taxes associated with the sale of crypto or digital assets. In addition to the aforementioned tax-cutting law, members of the National Council of the Slovak Republic, the country’s parliament, have further endorsed additional measures that impact cryptocurrency holders. дальше »

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Slovakia Parliament approves lowering of crypto taxes

The taxes will be lowered to 7% from the current taxation sliding scale of either 19% or 25%. Also, cryptocurrency payments of up to 2400 euros will not be taxed. Slovakia is one of the 27 member states of the European Union that recently adopted MiCA. дальше »

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Slovakian parliament votes to approve lower crypto taxes

A parliamentary vote held by lawmakers in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale. дальше »

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Japan Grants Exemption From 30% Crypto Tax On Paper Gains To Token Issuers

The National Tax Agency of Japan released an updated version of its corporate tax guidelines, introducing significant changes to the crypto taxation rules for digital token issuers. This revision focuses explicitly on eliminating taxes on unrealized gains derived from crypto assets issued by companies. дальше »

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US Debt Ceiling Bill Passes After Withdrawing Crypto Tax

The US debt ceiling bill, with its critical inclusions and exclusions, marks a significant milestone in US fiscal policy. While avoiding the crypto taxation controversy, it charts a path towards future financial stability and effective governance. дальше »

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White House Makes Case For 30% Crypto Mining Tax, Cites Economic And Energy Factors As Key Drive Behind Policy

Digital asset miners are under the radar of authorities once again concerning energy consumption and its impact on the environment. The White House released a report focused on digital asset mining, sustainable development, and “fair” taxation in the sector. дальше »

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South Korea Authorities Investigate Lawmaker Over Suspicious Crypto Transfers: Report

Democratic Party lawmaker Kim Nam-kuk had reportedly co-sponsored a bill seeking to defer taxation on crypto profits. дальше »

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Environmental lawyer weighs in on crypto mining and taxation proposal

Robert F. Kennedy Jr. engages in a discussion about the sustainability of cryptocurrency mining, the need for a diverse ecosystem of currencies, and the potential consequences of the proposed 30% tax. дальше »

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Montana governor signs pro-cryptocurrency mining bill into law

The legislation includes revisions to laws aimed at prohibiting discriminatory electrical rates for mining firms and not allowing taxation for crypto used as a method of payment. дальше »

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