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IRS Releases ‘Tax Cheat’ Info Raising Concerns About Crypto Theft
30.9.2019
The U.S. Internal Revenue Service (IRS) released a new report and infographic on Thursday illustrating unpaid or underpaid taxes for the years 2011 – 2013. The numbers reflect estimates based on the last such findings, for the years 2008 – 2010. With commissioner Chuck Rettig citing...
Government of Uzbekistan Triples Tax on Electricity for Crypto Miners
28.9.2019
The government of Uzbekistan orders a 300% increase on electricity tariffs for cryptocurrency miners
Russian Banks: We’ve Found Ways to Tax Crypto Without Changing the Law
26.9.2019
Russian bankers and their lawyers appear to have uncovered creative legal loopholes that could let tax authorities in the country tax crypto holders – without even having to change the country’s taxation code.
Per a report from Izvestia, the Association of Russian Banks has drawn up a document that...
Int’l Accounting Standards Body Defines Bitcoin as ‘Intangible Asset’
23.9.2019
Cryptocurrencies like Bitcoin are neither financial assets nor legal tender, says the International Financial Reporting Interpretations Committee
Portugal Could Be a Tax Haven — Not Only for Crypto Traders
21.9.2019
Have you considered relocating to Portugal to enjoy tax-free crypto-trading? You may get more tax benefits than you thought
Are Tax Moves to Puerto Rico Worth It for Crypto Holders?
20.9.2019
Some in the crypto community have embraced moving to Puerto Rico for tax reasons. Our tax expert explains whether or not it is worth it
10 Tax Tools to Help Crypto Owners
18.9.2019
While tax laws on cryptocurrency vary by jurisdiction, there are many useful tools to help you calculate crypto taxes, lower your tax liabilities, and simplify your filing — no matter where you are. Many of them work globally, supporting tax forms of multiple countries, and can import data...
Indian Parliament Member Helping Crypto Community Influence Regulation
17.9.2019
The Indian crypto community has made progress towards influencing the government’s crypto policies. Some industry leaders have met with an influential lawmaker who has agreed to help bring about positive crypto regulation in the country. Also read: India’s Popular ‘Who Wants to...
Canada Revenue Agency Audits QuadrigaCX’s Corporate Tax Returns
17.9.2019
The now-defunct Canadian crypto exchange QuadrigaCX is being audited by the Canada Revenue Agency
France Won’t Tax Crypto-Only Trades, Will Tax Crypto-to-Fiat Sales
12.9.2019
French economy minister Bruno Le Maire says that local authorities won’t tax crypto-only trades, but will tax when cryptos are sold for fiat
US Politician Uses Crypto to Buy Cannabis for Tax Remittance Demo
12.9.2019
First steps towards cannabis tax remittances via stablecoin in California as local politician buys cannabis using cryptocurrency
Tax Strategies For Cryptocurrency Investors To Legally Minimize Taxes
12.9.2019
Many cryptocurrency investors and taxpayers view the tax system as a drain on their wealth. They often say, if it wasn’t for taxes, I would have more funds to accelerate the growth of my portfolio and build wealth for my […]
The post Tax Strategies For Cryptocurrency Investors To Legally...
Iranian Crypto Miners Tax Exempt If They Repatriate Offshore Earnings
12.9.2019
Iran's National Tax Administration states that cryptocurrency miners will be eligible for a repatriation tax exemption, similar to non-oil exports
Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin
3.9.2019
Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature...
IRS Expands Penalties: Which Tax Mistakes Are Better Not to Commit
2.9.2019
With crypto, the IRS is digging hard, investigating both tax evasion and just poor compliance. What the IRS considers “willful” vs. “non-willful” tax flubs have huge consequences
Kyrgyzstan Proposes a Law to Tax Cryptocurrency Mining After Banning The Same In 2014
1.9.2019
According to reports from the regional news outlet Kabar, the Ministry of Economy of the Kyrgyz Republic has submitted a draft law “On Amending the Tax Code”. The law will introduce taxes on cryptocurrency mining activities. Back in July 2014, the central law authority of the country had explicitly...
Portugal Tax Authority Removes Taxation on Crypto Trading and Payments
30.8.2019
In recent news, cryptocurrency trading and payments in Portugal those cryptocurrencies from tax, the European nation’s authority has explained. The local business newspaper has revealed the news recently, saying that the body has said that both cryptocurrency trading in genuine currencies...
Portugal Tax Authority: Bitcoin Trading and Payments Are Tax-Free
29.8.2019
Portuguese tax authorities clarified that both crypto trading and payments in crypto are not taxed in the country
‘Not an Audit’: IRS Notice Could Spell Trouble for Crypto Traders
26.8.2019
The IRS took to Twitter on August, 26, posting a video about recently mailed CP2000 notices, of special interest to crypto traders. The notice, which seeks to rectify discrepancies made by recipients in tax reporting, is another in a series of crypto-related letters recently sent by the agency....
How to Reduce Your Crypto Tax Bill by Taking Out a Crypto-Back Loans
25.8.2019
The crypto lending market has been experiencing an increasing interest in the past 12 to 18 months. More and more HODLers are using their digital asset holding as collateral for fiat currency loans. While the reasons to take out loans are myriad, one of the biggest arguments for taking out...