Crypto Mining Saga Continues: Industry Leaders Oppose US Gov’t Resurrection Of 30% Tax Proposal

The US Government is under backlash after allegedly targeting the crypto mining industry again. A recent report revealed the government’s plan to resurrect a tax proposal that could significantly affect the whole sector.

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Crypto data platform Glassnode sells Bitcoin tax software to Blockpit

After acquiring the crypto tax platform Accointing in October 2022, Glassnode is selling the business to focus on DeFi and institutional offerings.

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Coinbase Sounds Alarm on IRS Crypto Tax Proposal

As the U.S. crypto exchange called the recent IRS proposal for taxing crypto “incomprehensible,” the tax agency flagged that the industry isn’t paying its fair share.

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Senator Warren Grills US Gov’t Over 2-Year Delay on Crypto Tax Rules

Senator Elizabeth Warren has voiced concerns over the delayed implementation of US crypto tax rules, warning that the government could miss out on billions of dollars in revenue. The post Senator Warren Grills US Gov’t Over 2-Year Delay on Crypto Tax Rules appeared first on BeInCrypto.

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Crypto Wants a De Minimis Tax Exemption in the U.S.

The leaders of the Senate Finance Committee, Sens. Ron Wyden (D-Ore.) and Mike Crapo (R-Idaho) published an open letter in July asking the crypto industry to weigh in on crypto tax issues, including loans, staking, mining, constructive sales and wash trading. These comments were due earlier this month.

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Japan Grants Exemption From 30% Crypto Tax On Paper Gains To Token Issuers

The National Tax Agency of Japan released an updated version of its corporate tax guidelines, introducing significant changes to the crypto taxation rules for digital token issuers. This revision focuses explicitly on eliminating taxes on unrealized gains derived from crypto assets issued by companies.

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U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

Congressmen Brad Sherman and Stephen Lynch called the crypto industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations.

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Deal to avoid US debt default nixes proposed 30% crypto mining tax, says Ohio lawmaker

According to Rep. Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners.

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Latest US Debt Ceiling Proposal Strikes Out Unpopular Crypto Tax Bill

Coinspeaker Latest US Debt Ceiling Proposal Strikes Out Unpopular Crypto Tax Bill The recent US debt ceiling deal has struck out the previous crypto tax bill proposed by the Biden administration.

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Op-ed: Even free crypto is taxable – what to look out for this tax season

Crypto holders are always looking for airdrops or free crypto – but many don’t consider the associated tax obligations. If you’re based in the US, it’s not great news regarding airdrop taxes.

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CoinTracker integrates with H&R Block to offer crypto tax preparation

The new integration allows crypto users to automatically fill out the crypto portion of Form 8949, which is used to report capital gains and losses from investments for tax filings.

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CRPTM has Launched the Ultimate Crypto Tax Calculator and Reports Generator

CRPTM (krip-tm), a one-stop platform Crypto Marketplace, is ready to help you calculate and generate crypto tax reports in no time and become tax compliant.

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Crypto Tax: An In-Depth Look at OECD Plans for 2023 and Implications for Your Crypto

Crypto tax standards in the upcoming year may prove to be a trying time for the industry. Global tax regulators are applying more pressure on centralized and decentralized exchanges. This could even affect your own personal crypto holdings.

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Japanese Government To Ease 30% Crypto Tax Requirement – A Good Move?

Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypto firms reportedly chose to move their business elsewhere.

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House Financial Services Committee leader wants to extend crypto tax reforms

The chairman of the House Financial Services Committee, who is a leading Republican, has asked the Treasury Department to postpone enforcing the crypto tax provisions of the Infrastructure Investment.

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EU to Make Crypto Companies Report Tax Details to Authorities

The European Commission is going a step further than its crypto law MiCA as it seeks to tackle tax evasion

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How To Do Your Crypto.com Taxes – Get Crypto.com Transaction Historo For Tax Purposes

Generate Your Crypto Tax Reports With Crypto. com Tax Tool Crypto. com provides several tools to make it easier for consumers to manage their crypto assets. One such tool is the Crypto. com Tax Calculator.

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Crypto Tax Rates By Income Bracket – How Much Crypto Will You Pay?

What is the cryptocurrency tax rate? If you’ve earned crypto through activities like trading, mining, or staking, it could be subject to taxation as either long-term capital gains or ordinary income.

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Crypto Tax Guide: Understanding Crypto Taxes at a Glance

Are you struggling to understand what the tax implications of trading crypto might be? In this quick guide produced by the crypto tax experts at Ledgible, we’ll walk through the basic things you’ll need to know about crypto taxes globally.

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Portugal will implement 28% tax on crypto in 2023

The Portuguese government will introduce a 28% tax on all earnings generated from crypto held for less than a year in its 2023 budget. The post Portugal will implement 28% tax on crypto in 2023 appeared first on CryptoSlate.

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Japan Looks at Corporate Crypto Tax Breaks to Entice Startups: Report

Two crypto lobby groups recently asked the government to reform crypto tax laws in the country, where investors can pay up to 55% on capital gains.

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IRS takes out John Doe summons on crypto prime dealer SFOX to find tax cheat customers

The U.S. tax service has used the same tactic to gain information from Circle, Coinbase and Kraken in recent years, as analysis finds that half of taxes on crypto go unpaid.

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Solana-hacked crypto could be claimed as a tax loss: Experts

Australian, Canadian & U.K. crypto investors may potentially claim hacked crypto as a tax loss, but U.S. investors will miss out, according to tax experts.

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US Lawmakers Move to Clarify Definition of 'Brokers' in 2021 Infrastructure Law

A bipartisan group of U.S. lawmakers want to ensure that the definition of a crypto "broker" for tax reporting purposes does not capture parties that cannot report crypto transactions for tax purposes.

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TokenTax Review – Is Token Tax a Good Crypto Tax Calculator?

Today, cryptocurrencies are taxed in almost every country in the world. However, calculating your crypto taxes is one of the more stressful parts of being a crypto trader because it is very time consuming – not to mention difficult! The time it takes to report on your crypto taxes depend on many things, such as […] The post TokenTax Review – Is Token Tax a Good Crypto Tax Calculator? appeared first on CaptainAltcoin.

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From boom to gloom, the crypto investors now unable to pay their tax bill

2021 was a record-breaking year, as the total crypto market cap hit a high of just short of $3 trillion, with the market leader, Bitcoin, peaking at $69,000. The post From boom to gloom, the crypto investors now unable to pay their tax bill appeared first on CryptoSlate.

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Portuguese Parliament Rejects Bill to Tax Crypto, but Bows to the Inevitable

The Portuguese parliament has rejected two separate proposals to tax digital assets, but the days of tax-free crypto may be coming to an end. The post Portuguese Parliament Rejects Bill to Tax Crypto, but Bows to the Inevitable appeared first on BeInCrypto.

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Portugal Set To Prepare Crypto Tax Rules Contrary To Crypto Tax Haven Perceptions

The rise in crypto adoption has brought taxation, sometimes even before the government forms clear rules to protect users in the space. Long regarded as one of the last crypto tax havens in Europe, Portugal is on the brink of shedding the label as the government prepares a tax framework for the asset class. Portugal […]

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Indian Crypto Sector Likely To Attract 28% GST

Indian tax authorities are planning to put crypto activities in the category of services that attract the highest Goods and Services Tax (GST). According to media reports, the GST council has constituted a committee to study and map different crypto activities such as trading, staking, and wallets for tax purposes. As of now, crypto exchanges […]

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India’s crypto trading volume plunges as new tax rules take effect

Crypto trading volume at India-based exchanges fell to its lowest levels in recent years after the country’s new crypto tax rules came into effect on April 1, according to data from crypto research firm Crebaco.

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Best Cryptocurrency Tax Software 2022 – Complete Guide to Bitcoin Taxes

Crypto tax calculator was not even a term back in the crazy days of crypto in 2017. Suddenly, news of people getting rich overnight grabbed everyone’s attention. Naturally, the government didn’t fall on deaf ears and has shown a significant interest in the crypto markets.

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Indonesia Set To Tax Crypto Transactions And Investments From May

An Indonesian tax official reveals that the country will impose taxes on the crypto market. According to the report, crypto transactions will be subject to VAT below 11%, and income tax will be pegged at 0.

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Crypto traders to pay 15% of their gains as tax in Thailand

The Republic of Thailand has broken the news that crypto traders in the country will now have to pay a capital gain tax of 15%, on all of their crypto trades. The post Crypto traders to pay 15% of their gains as tax in Thailand appeared first on CryptoSlate.

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How pop icons BTS made their way into the crypto tax debate in South Korea

South Korea has been amidst a regulatory shake-up in the crypto sector. Meanwhile, the 1 January 2022 deadline for tax filings to include crypto earnings is soon approaching. It is a heated topic of dThe post How pop icons BTS made their way into the crypto tax debate in South Korea appeared first on AMBCrypto.

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Crypto.com Tax Tool Review [2022] – Free Tax Calculator by Crypto.com

What is Crypto. com tax tool? Crypto. com is a payment and cryptocurrency platform with a whole ecosystem of different products and services. It is constantly expanding its variety of services and of the most recent ones, established back in the spring of 2021, is their tax tool.

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South Korea will not tax NFT gains even as it moves to tax crypto income

It is no longer news that South Korea is looking to start taxing crypto gains from 2022, however, the Asian country’s minister of Economy and Finance Hong Nam-ki has revealed that the proposed crypto tax law will not be applicable to non-fungible tokens (NFTs).

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India’s Income Tax Department may soon target crypto trades and ecosystem

Indian entrepreneurs believe crypto tax laws are foundational to mainstream crypto acceptance by governments.

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TokenTax Review [2021] – Is Token Tax a Good Crypto Tax Calculator?

Today, cryptocurrencies are taxed in almost every country in the world. However, calculating your crypto taxes is one of the more stressful parts of being a crypto trader because it is very time consuming – not to mention difficult! The time it takes to report on your crypto taxes depend on many things, such as […] The post TokenTax Review [2021] – Is Token Tax a Good Crypto Tax Calculator? appeared first on CaptainAltcoin.

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Survey: South Korean Investors Welcome Controversial Crypto Tax Law

A new survey has revealed that a majority of South Korean investors support the proposed crypto tax law set to be unveiled next year. 53. 7% Support Crypto Gains Tax According to a recent survey sponsored by local television station YTN, many South Korean crypto investors support the government’s move to tax crypto gains.

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UK Crypto Taxation Guidelines Issued by Revenue and Customs Agency

The United Kingdom’s tax collection body, Her Majesty’s Revenue and Customs (HMRC) has issued a new document that explains taxation guidelines for cryptocurrency. UK Crypto Regulations The Cryptoassets Manual defines the tax rates for crypto transactions that involve businesses and companies.

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IRS Operation Hidden Treasure Cracks Down on Unreported Bitcoin and Crypto Users

Verady, maker of the Ledgible cryptocurrency tax and accounting platform, makes it easy for crypto holders to accurately account for crypto events with Ledgible Tax...

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The Crypto Tax solution for Kiwi Crypto Traders

Craig MacGregor is the founder of Taxoshi, a cryptocurrency tax calculator that helps Kiwis understand their crypto tax position. Taxoshi’s algorithms automate the currency conversions and calculate your trading and mining loss and profit in accordance with the cryptocurrency guidance from the New Zealand IRD.

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Best Cryptocurrency Tax Software 2021 – Complete Guide to Bitcoin Taxes

Crypto tax calculator was not even a term back in the crazy days of crypto in 2017. Suddenly, news of people getting rich overnight grabbed everyone’s attention. Naturally, the government didn’t fall on deaf ears and has shown a significant interest in the crypto markets.

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8 Ways to Reduce Your 2020 Crypto Tax Bill

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Best Cryptocurrency Tax Software For 2021 – Complete Guide to Bitcoin Taxes

Crypto tax calculator was not even a term back in the crazy days of crypto in 2017. Suddenly, news of people getting rich overnight grabbed everyone’s attention. Naturally, the government didn’t fall on deaf ears and has shown a significant interest in the crypto markets.

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PayPal, Coinbase, and Winklevoss Twins Invest in Crypto Tax Startup 

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Israeli Tax Authority Reportedly Mandates Crypto Holdings Disclosure for Investors

The Israeli tax watchdog is tightening the noose around crypto holders. Report Says Crypto Disclosure to Be Made Compulsory While the cryptocurrency markets continue their unprecedented rise with bitcoin (BTC) hitting new all-time-highs almost every passing day, the tax watchdogs around the world have developed a keen interest in the burgeoning industry. According to aRead More

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South Korea’s National Assembly Approves Amendment to Push Crypto Tax Rule to January 2022

South Korea is set to enforce its upcoming crypto tax law in January 2022 instead of the earlier proposition of October 2021. This will give crypto stakeholders operating within its jurisdiction one more year to sort out in-house tax reporting infrastructure.

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South Korean government to delay crypto tax rules by three months

Following lobbying by the Korean Blockchain Association, crypto exchanges have extra time to implement a new tax infrastructure.

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