Tax reduction Financial News

29.06 / 00:21

regulation Taxes Tax reduction Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales

The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in the Russian Federation. Some other services of digital asset exchanges will also be exempted, according to state-run news service RIA Novosti.

31.07 / 16:09

regulation Taxes Tax reduction tax cuts Japan Blockchain Association demands tax cuts for crypto

Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets. Japan Blockchain Association (JBA), a non-governmental lobbying group, filed an official request to the country’s government, highlighting three major steps to ease up the fiscal burden on crypto holders.

11.07 / 11:59

Adoption Taxes Financial Services Tax reduction financial literacy strategies How to use tax planning strategies for maximum savings

Tax management is an essential component that can have a big impact on your overall savings and investment results. The implementation of efficient tax planning tactics is crucial, regardless of whether you are involved in conventional financial markets or are looking at prospects in the cryptocurrency field.

29.06 / 12:07

business regulation Europe Taxes Tax reduction Slovakian parliament votes to approve lower crypto taxes

Members of Slovakia’s National Council of the Slovak Republic — the country’s parliament — have voted to approve lower crypto taxes, along with additional measures affecting cryptocurrency holders.

10.05 / 09:49

regulation Taxes Tax reduction end Biden calls to end $18B ‘crypto tax loopholes’ — community begs to differ

United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist.

10.04 / 23:35

regulation IRS Taxes Startups Tax reduction tech startups New R&D tax rules could bankrupt your blockchain startup

The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create more tech jobs in the U.S.

05.04 / 14:33

Adoption defi fees Value Taxes Tax reduction MEV Ethereum projects unite to protect users from MEV-induced high prices

Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax.

01.04 / 06:33

Adoption Latin America Taxes Tax reduction Bitcoin El Salvador removes all taxes related to tech innovation for economic growth

El Salvador, the first country to establish Bitcoin (BTC) as a legal tender, made another historic decision to eliminate all taxes on technology innovations. The move runs parallel to the establishment of the National Bitcoin Office (ONBTC) of El Salvador, a.k.a. the Bitcoin office.

09.03 / 07:19

regulation Trading Taxes Tax reduction reports Biden wants to double capital gains and clamp down on crypto wash sales: Reports

U.S. President Joe Biden’s upcoming budget proposal has a few surprises for crypto traders and investors, including a proposed doubling of capital gains for certain investors and a crackdown on crypto wash sales.

01.02 / 13:13

Blockchain regulation Taxes Tax reduction National Here's why India held on to older crypto reforms in national budget 2023

Cryptocurrency and blockchain technology found no mention in India’s union budget for the year 2023, bringing down the hopes of millions of crypto holders in the country. Many in the Indian crypto community were hoping for some reduction to the high crypto tax, implemented in March 2022.

29.03 / 06:31

regulation Tax reduction committee Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives

Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program.

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