2 / 2 Relevant items tagged with #Taxation

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Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025

[Apr 1, 2023 4:30 AM] Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized…

French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud

[Mar 28, 2023 1:00 PM] On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According…

Staking gains shouldn't be taxed until they're sold

[Mar 27, 2023 5:51 PM] We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked.

What is fiscal policy, and why does it matter?

[Mar 25, 2023 6:07 AM] Fiscal policy shapes economies through government spending, taxation and borrowing.

Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

[Mar 17, 2023 10:30 PM] The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to…

Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation

[Mar 12, 2023 2:30 AM] A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of…

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says

[Feb 13, 2023 5:00 AM] Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various…

Uzbekistan Collects Over $300,000 From Crypto Sector

[Feb 3, 2023 5:30 PM] While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees…

Where Are the Crypto OGs? — Taxation Is Theft, but Joe Biden Needs Ice Cream Money

[Jan 26, 2023 6:30 AM] Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think that’s a good thing, while still giving lip service to peer-to-peer values…

Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

[Jan 13, 2023 9:00 AM] Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would…

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

[Jan 8, 2023 3:30 AM] Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders…

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

[Dec 25, 2022 4:00 AM] The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S…

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

[Dec 9, 2022 6:30 AM] The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are…

Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

[Dec 8, 2022 1:00 AM] Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry…

Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions

[Dec 5, 2022 5:30 AM] A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to…

Italy Wants to Tax Crypto Gains at 26% From 2023

[Dec 1, 2022 8:30 AM] The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige Italians to declare their digital assets and…

New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations

[Nov 21, 2022 12:30 AM] A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the…

Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto

[Nov 13, 2022 3:00 PM] The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will…

Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals

[Nov 12, 2022 1:30 AM] The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the…