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Nalezeno "tax crypto": 142

Existing Indian law could impose 2% levy on crypto bought from offshore exchanges

22.6.2021
Existing law in India could mandate a 2% levy on cryptocurrency purchases from offshore-based exchanges servicing India’s market

One of Africa’s Oldest Wildlife Conservancies Accepts Crypto Donations

10.5.2021
One of Africa’s biggest wildlife conservancies, the Virunga National Park, which is situated in the Democratic Republic of Congo (DRC), says it now accepts donations via cryptocurrency. It says such donations will be used in helping to protect DRC’s famed “mountain gorillas...

South African Tax Collector Targeting Crypto Investors in Its Bid to Raise Extra Revenues

10.5.2021
Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area...

Survey shows South Koreans support crypto tax law

3.5.2021
More than half of the survey respondents favored the controversial crypto tax law in South Korea

US Court Authorizes IRS to Summon Cryptocurrency User Records From Circle and Poloniex

4.4.2021
The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years...

With US Tax Season Around the Corner, Here’s How to Report Crypto Activity to the IRS

1.4.2021
The key to properly filing taxes on cryptocurrency comes down to excellent record-keeping, the correct IRS tax forms, and knowledge about what qualifies as income versus capital gains. Handle Tax Filings With Care to Avoid Any Audits Although the traditional April 15th deadline for filing US taxes...

South Korean Government to Start Taxing Crypto Trading Profits in 2022

8.1.2021
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will...

India Considers 18% GST on Bitcoin Transactions

29.12.2020
The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic...

Israeli Tax Authorities Notify Cryptocurrency Owners to Disclose Their Holdings for Taxation Purposes

26.12.2020
The revenue collector, the Israel Tax Authority (ITA) has reportedly sent notifications to dozens of Israelis who own digital currencies asking them to fully disclose their assets and be taxed accordingly. In addition to sending letters to local citizens, the tax body has also sent inquiries...

IRS Sends Fresh Round of Tax Warning Letters to Cryptocurrency Owners

26.8.2020
The U.S. Internal Revenue Service (IRS) has begun sending new warning letters to cryptocurrency owners. This followed the tax agency prioritizing cryptocurrency on its tax forms. “The IRS is getting very serious about cryptocurrency tax compliance,” a tax expert told news.Bitcoin.com....

IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form

22.8.2020
The new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by about 150 million people to file their taxes. The Internal Revenue Service (IRS) requires all tax filers to declare whether they have received, sold, exchanged, or acquired...

Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

6.8.2020
Kazakhstan’s Ministry of the Economy wants to tax crypto mining in an effort to deal with the COVID-19 pandemic

Korean Government Proposes Tough New 22% Tax on Crypto Trading

22.7.2020
Crypto trading profits could be liable to a 22% tax should the Korean National Assembly approve the newly tabled proposal

Spain’s Tax Authority Sending Notices to 66,000 Cryptocurrency Owners

2.4.2020
The Spanish tax authority has reportedly started sending notices to about 66,000 cryptocurrency owners in the country. This number represents a massive increase from the 14,700 tax letters the agency sent to crypto owners last year. The letters will continue to be sent until the end of June despite...

Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption

7.2.2020
The island country of Saint Kitts and Nevis, located in the West Indies, recently passed a bill that legalizes digital currency assets like bitcoin cash. The act is cited as the Virtual Asset Bill 2020 and it aims to provide the regulation of cryptocurrencies for Saint Kitts and Nevis businesses...

Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million ‘Groundless’ Tax

17.1.2020
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply...

Government Confirms Crypto Profits Not Taxable in South Korea

2.1.2020
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend...