U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

2023-3-10 02:02

A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.

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tax department → Ðåçóëüòàòîâ: 77


Treasury Seeking More Crypto Reporting Requirements, Global Data-Sharing, in Reconciliation Package

The Treasury Department is looking to add more crypto reporting requirements in the reconciliation bill. On the one hand, the Treasury wants to introduce more rules for cryptocurrency transaction reporting; on the other hand, the officials of the department have been telling media that the crypto community’s fear about tax provision in the $1 trillion […] The post Treasury Seeking More Crypto Reporting Requirements, Global Data-Sharing, in Reconciliation Package first appeared on BitcoinExchangeGuide.

2021-8-31 17:05


US Treasury says Crypto Community’s Fear About Tax Provision in the Infrastructure Bill is Unwarranted

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2021-8-25 16:37


US Treasury to Ease Crypto Concerns by Clarifying A ‘Broker’ Doesn’t Include Those Without Transaction Data: Report

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2021-8-14 16:44


Ôîòî:

US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS

The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS. Treasury […]

2021-5-20 20:32


Oyster Protocol founder arrested; accused of operating multimillion-dollar tax evasion scheme

Founder of the now-defunct cryptocurrency scheme Oyster Protocol, Amir Burno Elmaani, has been arrested and charged by the US Department of Justice (DoJ) for a “multimillion-dollar tax evasion schemThe post Oyster Protocol founder arrested; accused of operating multimillion-dollar tax evasion scheme appeared first on AMBCrypto.

2020-12-11 22:00


62-year-old American earned $ 147 million on fraudulent cryptocurrency schemes

The American pleaded guilty to deceiving 70,000 people who invested in his fraudulent cryptocurrency schemes. In total, he managed to get about $ 147 million from defrauded investors. According to the Department of Justice, US citizen Steve Chen pleaded guilty to conspiracy to fraud, as well as tax evasion. From July 2013 to September 2015, […]

2020-2-24 10:50


Brazil Tax Authorities Impose New Regulation to Fine Crypto Traders Who Do Not Report Their Transactions

Back in August this year, the Department of Federal Revenue rolled out various provisions and stipulations that require all Brazilian citizens to report transactions that involve cryptocurrency. A recent report tabled on December 6th from one of Brazil’s most popular news outlets stated that the new codes for reporting cryptocurrency was introduced to back up […]

2019-12-8 20:30


Ôîòî:

A Blockchain-Based Excise System Promises Efficiency to Thailand’s Oil Industry

Blockchains are being used across the world for their ability to serve as a robust accounting ledger that can be shared and distributed in real-time across the world. According to the Bangkok Post, the Thai excise department is in talks with Krungthai Bank (KTB) to launch a blockchain-enabled system to make the tax payment andRead MoreRead More.

2019-11-26 00:00


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IRS draft tax form for crypto defines unhosted wallets as brokers

The IRS published a draft version of its 1099-DA reporting form and controversially included unhosted crypto wallets among its targets on April 19. Ji Kim, Chief Legal and Policy officer at the Crypto Council for Innovation, wrote that the IRS’ approach is “unfortunate” as it does not recognize that unhosted wallet providers lack knowledge about […] The post IRS draft tax form for crypto defines unhosted wallets as brokers appeared first on CryptoSlate.