Tax Financial News

07.01 / 12:11

cryptocurrency regulation Tax Time Time to ‘Resolve All Crypto Issues’ Says Russian Parliament

Russia’s parliament, the State Duma, has said that it wants to “resolve all legal issues with cryptocurrency” – by defining legal terms for cryptoassets, mining, and more. And the chief architect of crypto-related legislation in the country has noted that it is time for miners to start paying taxes on their earnings.

30.12 / 02:03

cryptocurrency regulation Tax South Korea to Tax Crypto Gifts, Inheritances, Plans Crackdown on Manipulators

The South Korean tax body has announced plans to start taxing crypto gifts and inherited tokens – although taxes will need to be paid in fiat using complicated-sounding methods. And Seoul has also announced that it will intensify its crackdown on crypto market manipulation.

29.12 / 13:31

cryptocurrency Opinion Tax Needed, clarity on equalisation levy and cryptocurrencies

The public had expected a number of benefits from the government, following the unprecedented and huge amount of COVID-induced hardships. The government has come up with various mechanisms like asset monetisation, divestment, privatisation, etc. However, from a purely direct tax perspective, there were not many significant proposals even though care was taken to not upset taxpayers with additional burdens.

25.12 / 04:05

NFT regulation Tax guidelines Updates NOT Japanese Tax Body Updates Crypto Guidelines for Staking and Lending, but Not NFTs

Japan’s tax body – the National Tax Agency – has updated its crypto FAQs, addressing issues including staking and crypto lending. But the body has made no mention of non-fungible tokens (NFTs) or token airdrops – a sign that it does not currently consider NFT trading or airdrops taxable.

22.12 / 16:47

Sport Advertising Tax UK Arsenal UK Regulator Calls Foul On Arsenal FC Fan Token Ads

London-based football club Arsenal FC has drawn the ire of the UK advertising watchdog Advertising Standards Authority (ASA) for what the regulator calls “taking advantage of consumers’ inexperience in cryptoassets.”

18.12 / 00:15

NFT defi PwC Tax DAOs, Token Holders Could Face New Tax Liabilities, PwC Report Warns

People who are part of Decentralized Autonomous Organizations (DAOs), or even holders of certain decentralized finance (DeFi)-focused governance tokens, could have tax liabilities that far exceed what they expect to see, a new PwC report on crypto taxation has warned.

15.12 / 20:21

cryptocurrency regulation PwC Tax Looking for a Country with Clearest Crypto Tax Policies? Check This List

The European microstate of Liechtenstein came in as the country with the clearest crypto tax policies for 2021, while Germany, coming in as number four, saw one of the best improvements since last year, a new report from consulting giant PwC has found.

03.12 / 12:30

cryptocurrency Tax Bitcoin Power Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax

South Korean MPs have finally overturned the government on its proposed crypto tax plans, ending a long saga that pitted lawmakers against the large crypto-skeptic administration of President Moon Jae-in.

30.11 / 15:09

cryptocurrency Tax Bitcoin South Koreans Can Trade Crypto Tax-Free Until at Least 2023 as Delay 'Virtualy Confirmed'

South Koreans will most likely be able to trade crypto without having to pay tax on their earnings for at least another year after politicians signed off on an amendment to a much-maligned and controversial tax plan – in a major blow to the government, which bitterly opposed talk of a delay.

29.11 / 12:13

regulation coinbase Tax UK ‘New Blow’ as Large Crypto Exchanges Are Told to Pay British Tech Tax

Crypto exchanges operating in the United Kingdom – including the likes of Coinbase – will be forced to pay a recently created tech tax – with the British tax body, HM Revenue and Customs (HMRC), declaring that cryptoassets “are not financial instruments.”

27.11 / 01:07

regulation Tax South Korean Political Parties in ‘De Facto Agreement’ over Crypto Tax Delay

The protracted political struggle over the South Korean crypto tax has entered a new – and possibly decisive chapter – with the major parties reaching a “de facto consensus” over a delay that could see traders allowed to transact tax-free until 2024.

26.11 / 04:07

regulation Tax South Korean Parliament Tries to Push Through Crypto Tax Delay, Gov’t Fights Back

The South Korean government is on a collision course with lawmakers on both sides of the National Assembly on the issue of crypto tax.

19.11 / 16:03

Crime IRS Tax Warning IRS Warning: The Taxman Cometh – For 'Billions of Dollars' Worth of Crypto

America’s central tax body, the Internal Revenue Service (IRS) has stated that it expects crypto worth billions of dollars could be seized again next year.

19.11 / 12:29

cryptocurrency Tax Budget Govt to change tax laws in Budget to tax cryptocurrency gains

The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said.

19.11 / 04:39

Government Tax Investors Investors rush to seek tax advice on crypto investments

investors who invest or trade frequently in cryptocurrencies are rushing to their advisors to figure out the tax implications of their investments, even as the government looks to introduce a legal framework around cryptocurrencies. Investors want to know the income tax implications on their returns, which can range anywhere up to 30%, say tax experts, given the regulatory vacuum around cryptocurrencies.

18.11 / 14:42

cryptocurrency Tax Bitcoin Argentina U-Turns On Crypto Tax With New Regulation

In an abrupt U-turn on an earlier stance adopted by the country’s authorities, the Argentinian government has released a decree that imposes a tax on credits and debts on transactions involving cryptoassets. The regulation was published on November 17, and the measures entered into force on the same day.

16.11 / 16:09

cryptocurrency Tax US Infra Act: Cryptoverse Says the Fight Isn’t Over, But Things Could Get ‘Messy’

Crypto advocates have vowed to keep fighting the controversial Infrastructure Investment and Jobs Act despite the fact that the United States President Joe Biden signed the act into law on Monday, leaving much-maligned “digital asset broker” status clauses intact.

09.11 / 12:01

Trading Tax Main S Korea’s Presidential Candidates Oppose Crypto Tax – But Gov’t Won’t Budge

The long-running will-they-won’t-they saga of the South Korean government’s crypto tax plans has taken a fresh turn – after both of the leading candidates to become the next President in March 2022 said they were in favor of delaying or amending the tax.

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