2021-4-27 11:58 |
Officials are considering a tax on all cryptocurrency transactions in Indonesia.
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Charles Rettig suggests legislation requiring transactions in cryptos to be reported the same as securities transactions. The post IRS Commissioner says Accurate Crypto Reporting Would Help In Closing the ‘Tax Gap’ first appeared on BitcoinExchangeGuide.
2021-4-15 19:32 | |
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The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto […]
2021-4-5 18:30 | |
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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.
2021-3-31 13:56 | |
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With NFT sales on the rise, news agency CNBC revealed that buyers and sellers could face taxes on such transactions. According to the company's wealth reporter, Robert Frank, the US Internal Revenue The post Those buying NFTs with Bitcoin or Ether may face tax surprise appeared first on AMBCrypto.
2021-3-18 01:30 | |
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If a person has purchased cryptocurrencies with USD, such a transaction is not reportable to the Internal Revenue Service (IRS), clarifies the updated FAQ on Virtual Currency Transactions on the official website.
2021-3-4 21:08 | |
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According to the answer given, “if your only transactions involving virtual currency during 2020 were purchases of virtual currency with real currency, you are not required to answer yes to the Form 1040 question.
2021-3-3 14:16 | |
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Crypto transactions in Kenya now attract a 1.5% tax.
2021-1-9 12:33 | |
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This new tax would clock in at 18% per transaction. Indian tax authorities are estimating this new tax could be applied to almost 40,000 crores per year. This equates to almost $5. 5 billion in countrywide Bitcoin transactions.
2020-12-29 14:41 | |
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The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies.
2020-12-29 13:41 | |
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The Indian Government has moved towards potentially implementing a tax of 18% on Bitcoin trading in the country. According to reports, the central government is currently weighing a proposal to impThe post India considers proposal to tax Bitcoin transactions at 18% appeared first on AMBCrypto.
2020-12-29 09:30 | |
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A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions.
2020-12-21 02:33 | |
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According to The Economic Times, India’s income tax authority is monitoring crypto investors and traders to demand income tax from them. This was reported by sources close to the government. The country’s tax department monitored cryptocurrency transactions that were conducted using bank accounts.
2020-12-6 20:11 | |
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IRS Tax forms have a new filing method for cryptocurrency transactions, and they announced it a few days ago. The internal revenue service tax forms are used by organizations, individuals, and other taxpayers to report their financial information’s in the traditional finance systems.
2020-10-31 11:14 | |
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Wendy Walker, a solution principal at Sovos, a tax compliance firm, has come out to describe reporting as the most important part of filing crypto taxes. She disclosed this information during an interview on October 30, noting that crypto adopters should always report details of their transactions even if they don’t owe income taxes.
2020-10-30 15:17 | |
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The Internal Revenue Service is planning to change the 2020 tax form and make sure all taxpayers report about their cryptocurrency transactions. The standard 1040 form will be altered by adding the following questions on the front page: At any time during 2020, did you sell, receive, send, exchange or otherwise acquire any financial interest […] The post IRS to Revise Form 1040 to Make it Harder for Traders to Escape Crypto Tax Obligation first appeared on BitcoinExchangeGuide.
2020-9-27 17:53 | |
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The U. S. Internal Revenue Service (IRS) wants to pay a contractor $625,000 if they can crack layer-two privacy schemes and the privacy-centric crypto asset monero (XMR). The tax agency says that the entity has “limited investigative resources” for tracing these types of cryptocurrency transactions.
2020-9-11 13:00 | |
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The US Internal Revenue Service (IRS) announced a tender to develop a solution capable of tracking transactions in the Monero confidential cryptocurrency network. For the creation of such a tool, American tax authorities are ready to pay $625,000.
2020-9-19 21:13 | |
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A new analytics firm scores a major contract with the U.S. tax agency, which has been upping its crypto engagement left and right.
2020-9-10 20:50 | |
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With tax reports for crypto transactions being complex and time-consuming to prepare, Koinly said its service automates the process in just minutes.
2020-7-29 10:28 | |
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NODE40, a leader in cryptocurrency tax calculation, announced today its SMART algorithm (Simple Multi-Account Reconciliation Technology), designed to track and match the cost basis of cryptocurrency transactions is now patent...
2020-7-22 02:45 | |
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Accointing, a crypto tax and portfolio tracking platform, has launched a free crypto tax solution that allows users to track bitcoin and over 4,500 cryptocurrencies via mobile or desktop, manage their transactions in over 300 crypto exchanges and wallets and generate a tax report of up to 25 transactions at no cost.
2020-7-15 14:27 | |
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The United States tax agency has published a request for information pertaining to privacy-centric cryptocurrencies and technologies that obfuscate crypto transactions. The IRS-CI Cyber Crimes Unit request is also asking for information in relation to “layer two offchain protocol networks, sidechains, and the Schnorr Signature algorithm.
2020-7-4 02:45 | |
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Sovos, a tax software company and Unbound Tech, a provider in cryptographic key management and protection, today announced a partnership to enable institutions trading or holding digital assets and cryptocurrency an advanced platform to secure their digital asset transactions that also ensures compliant tax reporting of cryptocurrency trades.
2020-6-25 16:53 | |
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According to a report by a local media outlet, Korea JoongAng Daily, the South Korean finance minister today confirmed that the country will go ahead with its plan to tax cryptocurrency transactions.
2020-6-18 21:07 | |
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The South Korean Ministry of Strategy and Finance is proposing a tax on profits from crypto-fiat transactions, reported a local news outlet. The proposition was made earlier this week which also includes the sale of the token through initial coin offerings (ICO) and crypto mining organizations.
2020-5-31 18:18 | |
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As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes.
2020-5-26 01:40 | |
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The IRS is emailing crypto startups with an offer to "assist our Revenue Agents in calculating taxpayers' gains or losses as a result of their transactions involving virtual currency."
2020-5-13 08:02 | |
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The US Internal Revenue Service (IRS) is expected to ramp up its cryptocurrency-related enforcement actions, a tax law office warns. US Revenue Agency Looking to Crack Down on Crypto Tax Evasion The IRS has not been explicit on how would it treat taxes related to cryptocurrency transactions.
2020-2-22 20:00 | |
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The Wall Street Blockchain Alliance is the latest to ask the U. S. Internal Revenue Service (IRS) to consider a ‘de minimis’ exemption for crypto tax payments below a specific value. IRS Should Reduce Crypto Tax Burden According to Law360, the Wall Street Blockchain Alliance has written a letter to the IRS calling for tax exemptions for crypto transactions below a certain threshold.
2020-2-6 19:00 | |
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U.K. tax returns are due on January 31 and HMRC is scrutinizing bitcoin and cryptocurrency transactions. Are your crypto tax returns up-to-date? The post Cryptocurrency Taxes in the UK: What You Need to Know appeared first on Bitcoin Magazine.
2020-1-30 20:31 | |
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U. S. tax preparation company H&R Block is advising its customers not to consider evading the Inland Revenue Service (IRS) by not reporting their cryptocurrency transactions Don’t Worry About Accuracy, Just Report Crypto Taxes According to Yahoo Finance, H&R Block has told its crypto-owning customers to heed the IRS’ call for crypto tax compliance.
2020-1-25 02:00 | |
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On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a private contractor to design a cryptocurrency blockchain analysis tool. According to the listing, the contract is for one year and HMRC will pay the contractor $100,000 for software that can “identify and cluster crypto asset transactions.
2020-1-22 22:10 | |
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The South Korean government is making plans to implement a 20 percent crypto taxation policy on income and profits made from crypto trading and transactions. 20 Percent Crypto Tax Coming to South Korea According to reports from PulseNews, the South Korean government is making plans to implement a new crypto tax policy on gains fromRead MoreRead More.
2020-1-20 16:00 | |
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South Korean regulators are reportedly considering a 20% income tax on income from crypto transactions
2020-1-20 11:30 | |
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South Korea's finance ministry might be planning to impose a 20 percent tax on income gained from cryptocurrency transactions, according to a recent Korea Herald report. The report quoted a governmentThe post South Korea considering the imposition of 20% tax on crypto-profits appeared first on AMBCrypto.
2020-1-20 10:19 | |
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Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply to crypto transactions.
2020-1-17 13:58 | |
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Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply to crypto transactions.
2020-1-18 13:58 | |
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A Congressional bill seeking to exempt daily crypto purchases and transactions from capital gains taxation has been returned to the US Congress. The bill known as “The Virtual Currency Tax Fairness Act of 2020,” seeks to exempt digital currency expenditures that are personal transactions from capital gains taxation. Users will not be required to report […]
2020-1-17 00:18 | |
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The South Korea-based exchange is fighting a move by the country's tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions.
2020-1-16 12:27 | |
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South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency.
2020-1-2 08:15 | |
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The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced.
2019-12-31 00:40 | |
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Tax authorities around the world are increasing their focus on crypto transactions and companies are rushing to help investors navigate the unclear regulations. The latest example is Thomson Reuters which has added a new tool for American tax payers to report crypto dealings to the IRS.
2019-12-24 22:20 | |
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ZenLedger. io, a cryptocurrency tax analysis and blockchain analytics startup, today announced a strategic seed raise of $3. 4 million. The software from ZenLedger has helped thousands of cryptocurrency investors and accountants with tax filings and financial analysis, exceeding $1 billion of crypto transactions with significant tax and time savings.
2019-12-18 22:04 | |
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Seattle-based cryptocurrency tax analysis firm ZenLedger has raised $3. 35 million in a seed round after processing more than $1 billion crypto transactions. ZenLedger’s investors include Vestigo Venture, Castle Island Ventures, Gumi Cryptos, Unblock Ventures (Line Messenger), and Migration Capital.
2019-12-17 20:30 | |
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Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish tax administration recently clarified.
2019-12-17 21:20 | |
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The tax authority of Denmark has reportedly sent out warning letters to 20,000 crypto owners asking them to amend their tax returns, pay taxes on crypto gains, or face penalties. The tax agency is demanding a full breakdown of their crypto transactions; it recently obtained information on these traders from three local crypto exchanges.
2019-12-11 17:10 | |
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Danish tax agency is asking crypto users to provide a full background of all their cryptocurrency transactions
2019-12-11 17:39 | |
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Capital gains from transactions involving virtual currencies such as bitcoin may soon be taxed in South Korea, according to a report by the Korea Times. The publication refers to government sources, and confirmation received from the Ministry of Economy and Finance.
2019-12-9 21:01 | |
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Capital gains taxation on crypto transactions could be introduced by the first half of 2020, South Korea’s Ministry of Economy and Finance has confirmed
2019-12-9 12:00 | |
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In a detailed analysis shared with his 788,000 followers on X (formerly Twitter), renowned analyst Pentoshi has forecasted a more restrained outlook for the current crypto bull run, suggesting that it may not mirror the explosive growth seen in previous cycles.
In his latest essay, Arthur Hayes, the former CEO of crypto exchange BitMEX, introduced a bold investment philosophy he calls the “Left Curve. ” This strategy diverges sharply from traditional investment approaches typically adopted during bull markets in the crypto world.
Wally Adeyemo cited a recent settlement with crypto exchange Binance and sanctions against crypto mixer Sinbad in calling for an expansion of the U.S. Treasury’s authority.
Genesis claims Gemini made preferential transfers of about $689 million from Genesis and wants the court to “correct this unfairness.”
The former presidential candidate spoke at NABS about opportunities the United States may be missing to blockchain and AI for the public good.
The third-party crypto bot Wallet is debuting its global rollout on Telegram Messenger in several countries in Latin America and Africa.
Robinhood attributed the decline in its transaction-based revenue to reduced cryptocurrency trading volumes on the platform.