Taxes Financial News

22.03 / 22:01

Law regulation Taxes OECD Framework OECD opens proposal on tax transparency framework for crypto to public comment

The Organisation for Economic Cooperation and Development, or OECD, has suggested additional requirements on reporting crypto transactions and identifying users aimed at increasing transparency for global tax authorities.

21.03 / 16:02

regulation Taxes Indian Indian crypto tax policy to treat each digital asset investment independently

Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital asset (VDA) suggest that traders can’t offset their losses from one digital asset against profit on another.

14.03 / 17:05

Blockchain Investments IRS Taxes Crypto software provides investors with simplified solution for reducing their tax bill

The profits some investors have incurred through cryptocurrency investing have been comparable to winning the lottery. Unfortunately, these earnings are also taxable like the lottery, turning seemingly big wins into major burdens. To alleviate the amount of taxes they will have to pay, investors are encouraged to use several strategies to help them retain more of their earnings.

14.03 / 15:05

regulation Taxes Bitcoin NOT Tax expert says buying crypto is not a taxable event

While many refer to crypto as the “Wild West,” some believe that this may only continue for a little longer.

09.03 / 00:09

Investments IRS Taxes Bitcoin How to navigate cryptocurrency tax implications amidst the CPA shortage

Cryptocurrency is a hot topic worldwide, especially with prices of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies hitting higher thresholds and resulting in another banner year for investors. While the earnings look good on paper, one factor is often left to consider –– that is, crypto taxes.

08.03 / 16:17

regulation Taxes Thailand reportedly exempts 7% crypto tax for traders on authorized exchanges

The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market.

01.03 / 13:27

business regulation Taxes South Korean crypto market grows to $45.9B in 2021 despite strict regulations

South Korea’s crypto market grew to 55 trillion Won ($45.9 billion) by the end of 2021, as per a new study from the country’s chief financial regulator, the Financial Service Commission.

16.02 / 19:41

Government Taxes Colorado Colorado governor says he expects state to accept tax payments in crypto by summer

Jared Polis, the governor of Colorado, has announced that the state government plans to allow residents to pay taxes in cryptocurrencies as early as summer 2022.

14.02 / 13:25

Law Police Taxes fraud case Tax Authority UK tax authority makes first NFT seizure in VAT fraud case

HM Revenue and Customs (HMRC), the chief tax authority in the United Kingdom, have seized three nonfungible tokens (NFTs) associated with a suspected tax evasion fraud.

14.02 / 11:57

Law Taxes Bitcoin Crypto miners Crypto miners exempt from IRS reporting rules, US Treasury affirms

The cryptocurrency industry in the United States is about to score a major legal win as the U.S. Treasury Department plans to spare crypto miners, and other "ancillary parties" from tax reporting rules.

10.02 / 06:41

regulation Investments Taxes Central Bank of Ireland nixes crypto funds: Too difficult 'for a retail investor'

The Central Bank of Ireland has stated that it is unlikely to approve investment funds for retail crypto investors because they lack the know-how to navigate the high-risk asset class.

08.02 / 12:57

regulation Taxes Simple math says Russia could collect up to $13B in crypto tax each year

The Russian government is expected to collect up to 1 trillion rubles ($13 billion) in crypto tax each year, as per an estimation by the authorities.

07.02 / 13:31

Government Taxes Bitcoin Venezuelans reportedly hit by new Bitcoin tax of up to 20%

The Venezuelan government has approved a new tax bill aiming to collect up to 20% in taxes from cryptocurrency transactions, according to local reports.

03.02 / 20:51

Government IRS Taxes lawmakers US lawmakers US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200

A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200.

02.02 / 15:33

regulation Asia Taxes Department Indian Crypto tax doesn't legalize trading, says Indian tax department chief

The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India.

02.02 / 15:33

markets Taxes Why did WazirX token (WRX) jump 30% after India announced its big crypto tax?

WazirX exchange’s native token, WRX, benefited the most from India’s latest U-turn on crypto this week.

01.02 / 12:57

Adoption Taxes Bitcoin Thailand scraps 15% crypto capital gains tax following public backlash

Thailand has decided to suspend the implementation of its 15% cryptocurrency capital gains tax for now. The proposal, which was presented earlier this year, triggered a lot of opposition, but it appears that some sort of crypto tax will still be implemented.

27.01 / 15:31

business Funding Venture Capital Taxes Crypto tax calculator CoinTracker valued at $1.3B following $100M raise

Cryptocurrency portfolio tracker and tax calculator CoinTracker has attained “unicorn” status after raising $100 million in Series A financing, demonstrating once again that investors are allocating vast sums of capital toward crypto-focused companies.

27.01 / 05:31

Blockchain Fraud IRS Taxes Future IRS special agent: Crypto's the future but there are ‘mountains of fraud’

A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space.

21.01 / 13:53

regulation Taxes Crypto taxation could deter investors, says Thai ruling party MP

Thailand’s Committee on Monetary Affairs, Finance, Financial Institutions and Financial Market conducted a virtual meeting to discuss various aspects of crypto taxation.

14.01 / 20:33

business Funding Taxes valuation Crypto-focused software firm Lukka raises $110M, reaches $1.3B valuation

Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace.

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