[Oct 17, 2024 2:30 AM] Italy plans to raise its capital gains tax on bitcoin to 42%, up from 26%, as part of efforts to fund election promises and curb the fiscal deficit. The government cites growing bitcoin adoption as a key factor. This comes as the European Union…
[Oct 16, 2024 11:21 AM] Italy plans to raise the withholding tax on Bitcoin capital gains to 42% and remove the 750 million euro minimum revenue requirement for the Digital Services Tax.
[Oct 7, 2024 1:30 AM] The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must…
[Oct 3, 2024 3:30 AM] Ohio State Senator Niraj Antani has introduced a bill to legalize cryptocurrency payments for state and local taxes. Emphasizing the importance of cryptocurrency in the present economy, the bill requires Ohio to accept digital currencies like…
[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…
[Sep 16, 2024 4:21 PM] The debt based monetary system has become quite extreme. On one hand, the US crossed the $35 trillion national debt milestone, placing a $104k burden on every US citizen. On the other hand, the Congressional Budget Office (CBO) puts federal…
[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…
[Sep 10, 2024 7:00 AM] The Federal Revenue Service, the Brazilian tax watchdog, recently revealed that it has been using an in-house tool that leverages AI to detect money laundering and tax evasion transactions involving crypto. The tool has already been proven useful…
[Sep 6, 2024 11:20 AM] The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified…
[Aug 28, 2024 5:30 PM] The New Zealand government has introduced a bill to implement the OECD’s Crypto Asset Reporting Framework (CARF). This framework aims to increase transparency in the crypto asset market. Effective April 1, 2026, New Zealand-based crypto-asset…
[Aug 26, 2024 5:30 AM] Thai authorities successfully raided an illegal bitcoin mining operation in Ratchaburi on August 23. The raid came after residents reported frequent power outages. The bitcoin mining operation was found to be consuming electricity that the…
[Aug 21, 2024 1:30 PM] As Kamala Harris eyes the presidency, reports highlight the Harris-Walz campaign’s backing of President Joe Biden’s budget proposal. This plan seeks to raise capital gains to 44.6% and introduces a 25% minimum tax on unrealized gains for Americans…
[Aug 20, 2024 1:32 PM] While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.
[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.
[Aug 13, 2024 7:06 PM] Four senators are fighting to exempt low-value crypto transactions from federal taxation. Congressional approval for their proposal is long overdue.
[Aug 10, 2024 6:05 PM] The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially…
[Aug 9, 2024 9:55 PM] The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”
[Aug 6, 2024 3:16 PM] Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such…
[Aug 6, 2024 8:11 AM] Binance faces a demand for nearly $86 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban.
[Aug 6, 2024 6:55 AM] Binance, the world's largest cryptocurrency exchange, has "challenged" a nearly $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI), a person directly involved with the matter told CoinDesk.
[Aug 2, 2024 6:25 AM] India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, a survey of Indian investors by a New Delhi-based technology policy think tank revealed.
[Jul 23, 2024 9:16 AM] Indian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1% tax deducted at source (TDS) is essential for…
[Jul 22, 2024 3:41 AM] India is unlikely to introduce any changes to its controversial tax-deducted-at-source (TDS) policy on Tuesday when Finance Minister Nirmala Sitharaman reveals her budget for 2024-2025, experts predicted.
[Jul 16, 2024 11:30 PM] The ruling party of South Korea is, once again, considering the postponement of the enactment of crypto-specific taxes, as this could influence public opinion towards the government. The party aims to implement these taxation rules by 2028, citing…
[Jun 30, 2024 1:21 PM] The U.S. Department of the Treasury and the IRS have released final regulations for tax reporting on digital asset sales, as part of the Biden-Harris administration’s implementation of the Infrastructure Investment and Jobs Act. Additionally, the…
[Jun 28, 2024 5:20 PM] The Internal Revenue Service did not include decentralized exchanges or self-custodial wallets under its broker reporting requirements.
[Jun 26, 2024 2:30 PM] U.S. Congressman Matt Gaetz has introduced a bill to allow federal income taxes to be paid with bitcoin. Inspired by El Salvador’s success with the cryptocurrency, the lawmaker believes this move will modernize the U.S. tax system, promote…
[Jun 5, 2024 12:00 PM] Turkey has dismissed levies on profits from stocks and cryptocurrencies but is exploring a transaction tax as part of efforts to regulate the tax on financial transactions.
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