France to Explore Crypto Tax Treatment Next Year

The self-styled crypto hub won’t just copy-and-paste traditional finance norms, but Bruno Le Maire is also worried about energy consumption

72 +

European Parliament members vote in favor of crypto and blockchain tax policies

The resolution recommended authorities in the parliament's 27 member states consider a “simplified tax treatment” for crypto users involved in occasional or small transactions.

83 +

U.K. tax authorities seek public consultation on DeFi tax treatment

United Kingdom tax authority H.M.

The post U.K. tax authorities seek public consultation on DeFi tax treatment appeared first on CryptoSlate.

238 +

Germany Publishes First Nationwide Tax Guide for Crypto

The finance ministry letter deals with the income tax treatment of mining, staking, lending, hard forks and airdrops.

73 +

The Right Tax Treatment of Staking Rewards Is Clear: Taxation Only After Sale

The U.S. needs to get straight on staking rewards or risks losing its edge on the crypto industry.

181 +

U.K. tax authorities freeze capital gains tax signaling short term victory for crypto investors

United Kingdom crypto investors braced themselves for significant changes in the treatment of Capital Gains Tax (CGT). The post U.K. tax authorities freeze capital gains tax signaling short term victory for crypto investors appeared first on CryptoSlate.

200 +

OECD calls out countries for their inconsistent rules on crypto taxation

The report suggests giving preferential tax treatment to PoS over PoW-based crypto assets.

192 +

Singapore: No Income Tax on Cryptocurrency Airdrops and Hard Fork Tokens, IRAS Says

The Internal Revenue Authority of Singapore (IRAS) has published new crypto tax guidelines indicating a tax exemption for hard forks and airdrops. Also, the guide outlines Singapore’s tax treatment scheme for digital tokens and securities.

262 +

New Zealand Plans to Drop ‘Unfavorable’ Sales Tax Treatment of Cryptocurrencies

New Zealand's Inland Revenue Department is considering how best to change its tax regimen so cryptocurrencies aren't at a disadvantage.

170 +

IRS Cryptocurrency Tax Summit Amidst Tightening Enforcement

The IRS is hosting a summit to discuss the tax implications of crypto early this March. Meaningful clarification on Bitcoin’s treatment, however, is not expected as the agency continues to...The post IRS Cryptocurrency Tax Summit Amidst Tightening Enforcement appeared first on Crypto Briefing.

112 +

IRS Refused to Clarify That Its Crypto Tax Guidance Isn’t Binding, US Watchdog Says

The IRS has refused to clarify that part of its 2019 guidance on tax treatment of cryptocurrencies is not binding, a government watchdog said.

137 +

IRS Refused to Clarify Its Crypto Tax Guidance Isn’t Binding, US Watchdog Says

The IRS has refused to clarify that part of its 2019 guidance on tax treatment of cryptocurrencies is not binding, a government watchdog said.

117 +

DISCUSSION: US Crypto Taxes Are a Nightmare. Could These Proposals Help?

Nobody likes taxes but for US based blockchain users things can be particularly awful. This week we discuss US tax treatment of "Virtual Currencies" and how scams find a home wherever opportunity exists, at least for a while.

174 +

Crypto Tax: De Minimis Exception Could Complicate Things for IRS

A provision for de minimis exception in crypto taxes could lead coin holders to manipulate the system while burdening IRS further. The US Internal Revenue Service recently published guidance regarding the tax treatment of digital currencies.

216 +

IRS’s treatment of fork, airdropped coins as income prompts debate

“.. if I could have one word that would just be to describe this whole guideline will be just whack, I mean, they’re just not thinking about what their guideline means,” said Brandon Green, Project Manager for BTC Inc while talking about the recently released guidelines and clarifications about its crypto tax policy by the […] The post IRS’s treatment of fork, airdropped coins as income prompts debate appeared first on AMBCrypto.

205 +

IRS Issues New Crypto Tax Guidance – Experts Weigh In

The U. S. Internal Revenue Service (IRS) has issued long-awaited guidance on the tax treatment of cryptocurrencies. It is generally described by the crypto community as a mixed bag since some parts are useful while others have raised many more questions, particularly how cryptocurrencies from hard forks and airdrops are taxed.

200 +

IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In

The U. S. Internal Revenue Service (IRS) has issued long-awaited guidance on the tax treatment of cryptocurrencies. It is generally described by the crypto community as a mixed bag since some parts are useful while others have raised many more questions, particularly how cryptocurrencies from hard forks and airdrops are taxed.

211 +

Crypto-to-crypto trades remain tax exempt, says French finance minister

Crypto-to-crypto trades will remain tax exempt, iterated French finance minister Bruno Le Maire. The stance stands in stark contrast to tax treatment for crypto-assets in the United States, marking a major boon for cryptocurrency traders domiciled in France.

138 +

UK Resident? Find Out if You Owe Tax on Crypto

Coinspeaker UK Resident? Find Out if You Owe Tax on CryptoOn Wednesday 21 August, eToro UK, HMRC and ICAEW held a webinar on the tax treatment of cryptoassets for individuals, the crypto landscape and the future of crypto.UK Resident? Find Out if You Owe Tax on Crypto

141 +

Singapore to Exempt Bitcoin from Goods and Services Tax

The U. S. is increasingly running the risk of being left behind other nations unless its authorities soon address issues surrounding Bitcoin. One of the main problems facing the cryptocurrency is tax treatment.

154 +

New Bitcoin Tax Rules To Boost Crypto Market Growth

According to the Wall Street Journal, The Internal Revenue Service (IRS) is expected to update its guidance on Bitcoin tax treatment within weeks. In the meantime, members of the U. S. Congress fear that the U.

229 +

Node40 Executive Explains What to Expect When the IRS Issues Its New Crypto Policy

Last May, the U. S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance.

210 +

IRS Commissioner Makes Crypto Tax Clarity a Priority

The U. S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers.

236 +

IRS to Release In-Depth Crypto Tax Guidance ‘Soon’

Coinspeaker IRS to Release In-Depth Crypto Tax Guidance ‘Soon’According to the IRS, they are now working on comprehensive crypto taxation guidance, which will in-depth explore 'acceptable methods for calculating cost basis, acceptable methods of cost basis assignment, and the tax treatment of forks'.

148 +

Minnesota Representative to Reintroduce Hard Fork Tax Reform Bill

Minnesota Congressional Representative Tom Emmer has announced plans to reintroduce a bill meant to “provide temporary safe harbor for the tax treatment of hard forks of convertible virtual currency in the absence of administrative guidance.

272 +

The Rise of Economic Development Zones:  A Way To Mitigate Crypto Taxation?

Taxation frustrates many in the cryptocurrency community. Investor capital gains along with Coinbase’s well-documented jockeying with the IRS, taxes continue to be an ongoing concern. There is some good news however on the U.

194 +

All you Need to Know about the Token Taxonomy Act

The tax treatment of cryptocurrencies has been a matter of constant back and forth since their inception. On one end, regulators argue that digital currencies are no different than traditional equity stocks which put them in the same bag as government-approved securities.

210 +

Navigating Crypto Taxes: The Year In Review

2018 was a difficult year for cryptocurrencies.  With the total market capitalization of all cryptos falling from over $800 billion to just over $100 billion in the space of a year, many enthusiasts and traders are now filing losses on their 2018 tax returns.

172 +

Elections Canada Consults With Political Parties on Crypto Donations

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

645 +

US Lawmakers Proposing a Bill to Challenge SEC’s Definition of Crypto as Securities

CoinSpeaker US Lawmakers Proposing a Bill to Challenge SEC’s Definition of Crypto as Securities Two U. S. congressmen Warren Davidson and Darren Soto, are introducing a bill that would exclude digital currencies from securities classification and substantially improve the tax treatment for cryptocurrencies.

134 +

Congressmen Introduce Bill to Change Securities Definition to Exclude Cryptocurrency

Two congressmen are introducing a bill that would exclude digital currencies from securities classification and substantially improve the tax treatment for cryptocurrencies. The new definition could benefit current cryptocurrency projects—such as Ripple’s XRP—and allow for ICOs and STOs to fundraise with more clarity.

217 +

French Parliament Rejects Crypto-Friendly Tax Changes

In France, several proposed changes to the laws governing the tax treatment of cryptocurrencies were rejected in the parliament on December 17th. The proposals would have made the tax treatment for transacting in cryptocurrencies more advantageous.

157 +

U.S. Congressman Drafts Blockchain Development Bills

The newly elected co-chair of the Congressional Blockchain Caucus, U. S. Representative Tom Emmer, has introduced a trio of blockchain-focused bills in support of the development and use of blockchain technology and digital assets.

203 +

Russia: Bitcoin Owners and Miners Will Not Face ‘Separate’ Tax Laws

Russia will subject owners and miners of cryptocurrency to all existing tax obligations from Autumn, authorities hinted July 18. Aksakov: No ‘Separate’ Treatment For Crypto Speaking to local news outlet Izvestia, Anatoly Aksakov, head of the financial markets committee at Russia’s state Duma, said there were currently no plans to draw up “separate” tax frameworks solely for cryptocurrency.

262 +