2 / 5 Relevant items tagged with #Tax

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Crypto Billionaire Flees London Over Offshore Tax Concerns

[Oct 1, 2024 11:20 AM] Christian Angermayer, a billionaire crypto investor, has reportedly moved from London to Switzerland as the UK considers tightening tax policies on offshore wealth. Angermayer’s relocation signals the potential departure of other wealthy…

Turkey Scraps Planned Crypto Tax, Targets Economic Reforms

[Sep 27, 2024 3:30 AM] Turkey has decided not to move forward with a new tax targeting stock market and cryptocurrency gains, according to Vice President Cevdet Yilmaz. While previously discussed, the plan has been dropped, with the government focusing instead on…

Turkey Shelves Additional Plans to Tax Stocks and Crypto: Bloomberg

[Sep 24, 2024 4:02 PM] We don’t have a stocks tax on our agenda. It was discussed previously and fell from our agenda, Vice President Cevdet Yilmaz told Bloomberg, talking about plans that also affect crypto.

Bitcoin Investor Faces Prison Time for Underreporting Crypto Gains

[Sep 15, 2024 1:30 AM] A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that…

Japans Financial Regulator Mulls Taxing Crypto as a Financial Asset

[Sep 4, 2024 2:12 PM] A change in the regime could result in lower taxes for some crypto investors.

Nigeria Planning to Present Law to Tax Crypto by September: Report

[Aug 19, 2024 12:19 PM] Nigeria's Federal Inland Revenue Service (FIRS) plans to bring a bill for taxing the crypto industry to parliament by September, news outlet Punch Nigeria reported on Saturday.

IMF Economists Suggest Electricity Tax to Lower Crypto and AI Environmental Impact

[Aug 17, 2024 11:30 AM] International Monetary Fund (IMF) economists have warned of the environmental impact of crypto mining and AI data centers, which are projected to increase global electricity consumption to 3.5% by 2027, leading to higher carbon emissions. Proposing…

IMF execs float raising crypto mining electricity prices by 85%

[Aug 16, 2024 1:44 AM] A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives.

IRS Shares New Crypto Tax Form, Invites Industry Input

[Aug 9, 2024 6:17 PM] The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA.

India to Release Its Crypto Policy Stance by September After Stakeholder Consultations: Report

[Jul 25, 2024 1:29 AM] India plans to put out a discussion paper outlining its policy stance on cryptocurrencies before September, according to Indian news outlet Moneycontrol citing an interview with Senior Finance Ministry Official Ajay Seth.

India Keeps Controversial Crypto Tax Rules Unchanged, Finance Minister's Budget Speech

[Jul 23, 2024 1:08 AM] The primary demand from India's crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01%

Latam Insights Encore: Bukele Pushes Controversial Substitution of National Products Policy To Fight Inflation, Offers Free Coffee on Top

[Jul 22, 2024 1:30 AM] Welcome To Latam Insights Encore, a deep view of Latin America’s most relevant economic and cryptocurrency-based news last week. In this edition, we discuss the import duties exemption measure President Nayib Bukele pushed for and passed in…

Australia’s revamped data program to ‘catch out’ crypto tax cheats

[Jun 28, 2024 12:11 AM] The Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they don’t properly file this tax season.

Biden’s Nonsensical Proposed 30% Tax Would Kill Bitcoin Mining in the U.S.

[Jun 13, 2024 9:35 AM]

Are crypto cashback rewards taxable?

[May 30, 2024 12:46 AM] Unsure if your crypto cashback rewards trigger tax obligations? Learn how to navigate them for stress-free crypto earning.

Thailand touts new ‘digital nomad’ visa extendable for nearly a year: Report

[May 29, 2024 1:51 AM] The Thai government has announced a new visa class for remote workers that can be extended for up to 360 days, but details on income and tax liabilities are unclear.

Binance Money Laundering Trial in Nigeria Pushed to June 20 Due to Executive’s Illness

[May 24, 2024 2:53 AM] Binance's head of financial crimes compliance Tigran Gambaryan is seriously ill, his lawyers said.

Coinbase to Target Australia's Self-Managed Pension Funds: Bloomberg

[May 16, 2024 12:49 AM] Coinbase is developing a service which will specifically target Australia' self-managed pensions sector, the exchange's Asia-Pacific Managing Director John O’Loghlen told Bloomberg.

Crypto Old-Head Otoh Talks Casascius Bitcoins, Tax Havens and Old Friends

[May 15, 2024 8:02 AM] The pseudonymous investor – early to both Ethereum and Litecoin – has lived large. He is a speaker at this year’s Consensus festival in Austin, Texas, May 29-31.

Australia’s Tax Office Tells Crypto Exchanges to Hand Over Transaction Details of 1.2 Million Accounts: Reuters

[May 7, 2024 1:05 AM] The Australian Taxation Office (ATO) has asked cryptocurrency exchanges to provide the personal data and transaction details of up to 1.2 million accounts, according to reports.

Bitcoin Could Slump Around Reward Halving Time, Arthur Hayes Says

[Apr 9, 2024 2:18 AM] The crypto market faces the U.S. tax season liquidity test around the time Bitcoin's blockchain implements the fourth mining-reward halving on April 20.

Indonesia’s Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms

[Mar 1, 2024 10:59 AM] Crypto is classified as a commodity in Indonesia and is subject to VAT and income tax.

India Keeps Stiff Taxes on Crypto as Interim-Budget Is Revealed in Election Year

[Feb 1, 2024 1:18 AM] India has not introduced any changes to the controversial tax deducted at source (TDS) affecting the crypto industry.

Indonesia's Crypto Tax Revenue Falls 63% in 2023 Despite Bitcoin's Surge

[Jan 24, 2024 3:33 AM] The country's tax revenue in 2023 was substantially lower than 2022, when the tax regime was introduced.

Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes

[Jan 17, 2024 3:23 AM] Indonesian crypto exchanges saw a sharp 60% drop in trading volumes in 2023, challenging its reputation as a fast adopter of digital assets.

New US Crypto Tax Law, SEC Still Processing BTC ETFs, Saylor Buys More BTC, and More — Week in Review

[Jan 7, 2024 6:30 AM] The U.S. introduces stringent tax reporting laws for transactions over $10,000, while the SEC grapples with a backlog of paperwork for pending spot Bitcoin ETFs. Meanwhile, Michael Saylor sells Microstrategy shares to increase his bitcoin holdings…

India's Local Crypto and Web3 Advocacy Body Asked for Action Against Offshore Entities: Source

[Dec 29, 2023 9:49 AM] The Bharat Web3 Association's (BWA) Chairman wrote the letter to the Indian government on Dec. 16.

Vladimir Putin's Signature Brings Digital Ruble Into Russia's Tax Code

[Dec 21, 2023 12:24 AM] Russia's digital ruble has been integrated into the nation's tax code after its President Vladimir Putin signed the move into law.

TaxWraps: Unwrap the Financial Gift of Tokenization This Christmas

[Dec 20, 2023 10:45 AM] As tokenization takes hold, we propose a way to defer tax liabilities, bringing the tax efficiencies of ETFs to a wide market.

Crypto Accounting and Tax Reporting Platform TRES Raises $11M to Add New Blockchains

[Dec 20, 2023 8:00 AM] TRES currently services clients with combined assets worth $19 billion, helping them manage, monitor and reconcile their digital asset activity across over 100 layer-1 and layer 2-blockchain networks