5 / 8 Relevant items tagged with #Taxes

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Thailand to start taxing overseas income next year, including from crypto

[Sep 19, 2023 3:22 AM] Any person who resides in Thailand for up to 180 days, would be subject to personal income tax on foreign assets, including crypto.

9 US senators publicly back Elizabeth Warren’s crypto bill

[Sep 18, 2023 1:16 AM] Senator Elizabeth Warren announces the expansion of her coalition to crack down on “crypto’s use in money laundering, drug trafficking, sanctions evasion.”

EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule

[Sep 13, 2023 12:09 PM] The measure received 535 votes for with 57 against and 60 abstentions in a plenary session.

G20 moves forward with international crypto framework

[Sep 9, 2023 11:09 AM] The upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis.

Blockchain Association responds to US lawmakers’ request for crypto tax guidance

[Sep 8, 2023 1:03 PM] Lawmakers with the U.S. Senate Financial Services Committee announced in July they would be accepting suggestions on how to tax crypto until Sept. 8.

Japanese regulator seeks to scrap “unrealized gains” tax on crypto

[Sep 5, 2023 2:26 AM] The Japanese Financial Services Agency has proposed changing the tax code around digital assets to free domestic firms from the end-of-the-year “unrealized gains” tax on crypto.

Failure to tax the metaverse ‘will create a tax haven’ — Harvard legal expert

[Sep 4, 2023 11:30 AM] Harvard scholar Christine Kim writes that income and wealth in the metaverse should be subject to immediate taxation.

Kentucky regulator denies plan for subsidizing crypto mining facility

[Sep 1, 2023 1:03 PM] A proposed contact with the Kentucky Power Company would have allowed Ebon International to receive a discounted rate for service at its crypto mining facility over a decade.

Tornado Cash Indictments May Prove to Be Just a Localized Storm After All

[Aug 29, 2023 6:00 PM] The Tornado Cash indictments could be another tipping point for crypto. How the case plays out could define how the federal government can deal with decentralized trading platforms if they’re seen as broad precedents. But the case may be much more…

Indian crypto exchanges CoinSwitch, CoinDCX cut staff amid market slump

[Aug 29, 2023 7:05 AM] Indian crypto exchanges CoinSwitch and CoinDCX have been struggling to maintain headcount amid bear market and TDS.

Switzerland's Legacy Of Financial Freedom Makes It The Best Place For Bitcoin To Thrive

[Aug 29, 2023 6:00 AM] This is an opinion editorial by Julian Liniger, the co-founder and CEO of bitcoin purchasing platform Relai. Source: Relai As a Swiss citizen, it didn’t take me long to understand why Bitcoin is unique. Switzerland is a country that values lots of…

New tax rules for crypto in the US: Law Decoded

[Aug 28, 2023 2:30 PM] The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers.

IRS releases draft of proposed reporting rules for digital asset brokers

[Aug 25, 2023 10:40 AM] House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”

U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges

[Aug 25, 2023 6:45 AM] The U.S. Treasury Department has finally unveiled its definition of a "broker" for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether…

South Korean city to seize crypto from thousands of tax evaders: Report

[Aug 22, 2023 2:38 AM] City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government.

Coin Center responds to US lawmakers’ request for crypto tax guidance

[Aug 21, 2023 2:40 PM] The crypto advocacy group’s suggestions included a de minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops and hard forks.

Brazil's Congress moves to levy higher taxes on cryptocurrencies

[Aug 12, 2023 11:06 AM] If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets.

FTX has a plan, but creditors are not impressed: Law Decoded

[Aug 7, 2023 2:30 PM] A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan.

Ukraine Government Reveals Crypto Firms Have Cost The Country $81 Million In Lost Taxes

[Aug 3, 2023 10:00 AM] According to data released by the Ukrainian government, cryptocurrency firms offering services in Ukraine have failed to contribute over $81 million in taxes to the country’s budget in the past decade. This comes after the country passed a crypto…

Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013

[Aug 2, 2023 10:30 AM] A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework.

Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance

[Aug 1, 2023 8:00 AM] The U.S. Internal Revenue Service (IRS) has issued a decree stating that American citizens drawing income from cryptocurrency staking services must categorize the value of those digital assets as gross income, the moment they officially take…

Japan Blockchain Association demands tax cuts for crypto

[Jul 31, 2023 9:04 AM] Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets.

Japan Blockchain Association Urges Tokyo to Overhaul Crypto Tax System

[Jul 31, 2023 3:30 AM] An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and…

Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report

[Jul 26, 2023 1:45 PM] A couple who filed a lawsuit over how staked Tezos tokens were taxed has gone to appellate court after refusing to accept a refund check from the IRS.

Thodex CEO sentenced to Turkish prison for failure to submit tax documents

[Jul 18, 2023 1:37 AM] Faruk Fatih Özer failed to submit the requested documents to the Tax Inspection Board. He denied being Thodex’s official at the time, which prevents him from presenting the requested books.

US Senate Finance Committee asks digital asset community how to tax it in open letter

[Jul 11, 2023 4:00 PM] Community members may want to read up on the intricacies of tax law before they respond, but they have two months to do so.

Bill to exempt foreigners from crypto taxes passes preliminary reading in Israel

[Jul 6, 2023 2:15 AM] The bill would also level up crypto bonuses with employee stock options by reducing the current 50% tax to 25%.

IMF eyes tens of billions in crypto asset taxes, has few suggestions for collecting them

[Jul 5, 2023 2:00 PM] Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it.

Kraken ordered by court to disclose user data to IRS for tax compliance

[Jul 1, 2023 4:10 AM] Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year.

US Judge Orders Kraken to Release Customer Data to IRS in Cryptocurrency Tax Probe

[Jun 30, 2023 10:30 PM] Kraken, the San Francisco-headquartered digital currency exchange, has received a court order from a U.S. judge requiring the release of customer data to the Internal Revenue Service (IRS). The court filing, submitted on Friday, states that the IRS…