Charles P. Rettig, commissioner of the Internal Revenue Service, testifies during the Senate Finance Committee hearing titled The IRS Fiscal Year 2022 Budget, in Dirksen Senate Office Building in Wash...
Tag: Tax
Germany outlines favorable tax guidelines, gains on BTC and ETH sold after a year tax-free
The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual tax...
South Korean President’s Promise To Increase Crypto Tax Limit Will Remain Unfulfilled
Reportedly, The South Korean National Assembly Research Service (NARS) has claimed tax on cryptocurrency gains set for 2023. It needs to maintain the 2.5 Million won limit, not 50 Million won as ment...
Germany Announces, No Tax On Crypto Sales For Investors Holding For 1 Year
According to Katja Hessel, German Parliamentary State Secretary, crypto traders can get tax exemption benefits on the sale of digital currencies. Furthermore, if they have held onto their assets for o...
Germany To Not Levy Tax On Crypto Sold After One Year
Germany’s first nationwide tax guide details that no taxes will be levied on the sale of cryptocurrencies that have been held for a year. BMF Issues Crypto Tax Guide On Tuesday, the Federal Ministry ...
Tax pros ‘horrified’ by IRS decision to destroy data on 30 million filers
courtneyk | E+ | Getty Images An audit by the Treasury Inspector General for Tax Administration revealed the IRS has tossed data for millions of payers, sparking anger from the tax community. The mate...
Germany Won’t Tax Bitcoin, Ethereum Sold After One Year of Possession
Germany’s federal finance ministry (BMF) issued the country’s first guidance on the income tax treatment of cryptocurrencies, as well as other blockchain-based tokens. The 24-page document issue...
Why Crypto’s Rough Year In India Just Got Worse
New Delhi, India- October 16, 2018: Bitcoin India getty India’s latest decisions governing cryptocurrency portend turbulent times ahead for the country’s nascent but booming digital currency industry....
A Carbon Tax Won’t Fight Climate Change, But Will Make Life More Expensive
A misguided group in Congress is trying to hammer out a scheme to levy tariffs on such imports as steel, cement and aluminum, whose production in certain countries supposedly causes a higher output of...
India mulls a 28% tax for crypto services: CNBC-TV18
India’s Goods and Services Tax (GST) Council is weighing a proposal to impose a 28% tax on all cryptocurrency transactions, according to a report by CNBC-TV18 on Monday. “The proposal is t...
Indians to face additional 28% tax on crypto
Authorities in India are looking to introduce an additional 28% Goods and Services Tax on cryptocurrencies, CNBC reported. India’s new 28% tax for crypto According to the report, India’s Goods and Se...
Indian GST Council Wants to Treat Crypto Like Casinos and Online Betting, Proposes 28% Tax
The Goods and Service Tax (GST) Council, the body in charge of making laws and regulating goods and services tax in India, is planning on treating cryptocurrencies like casinos and online betting. Cur...
28% Tax on Crypto is Considered by Indian Goods and Services Tax (GST) Council
Gamza Khanzadaev New tax is considered to be levied in addition to already announced 30% tax on crypto gains A 28% tax on services and all activities related to cryptocurrencies is likely to be levied...
Biden Reaps Record Tax Haul on Meme Stocks’ Once-and-Done Frenzy
(Bloomberg) — The surge in individual stock trading by Americans last year contributed to a record tax haul for the federal government this spring — shrinking the budget deficit and surpri...
India plans to impose a 28% Good and Services Tax on cryptocurrency
At the next Good and Services Tax (GST) Council meeting, officials in India are anticipated to look into implementing a 28% tax on crypto-related transactions and services. The top decision-making bod...
Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is Applied – Coinotizia
The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet...
Indonesia Officially Imposes 0.1% Tax and VAT on Crypto Income and Purchases
According to the Times of India, Hestu Yoga Saksama, director of tax regulations at the Ministry of Finance, has confirmed that the government has decided to impose a 0.1% tax charge on incomes emanat...
Indian Crypto Users Face More Pain As GST Council Plans 28% Tax
India’s Goods and Service Tax Council is considering levying a 28% GST on Bitcoin and other cryptocurrencies in its next session. According to sources, cryptocurrencies are still outside the ambit of ...
Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is Applied – Emerging Markets Bitcoin News
The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet...
India’s Goods and Services Tax Council considers a 28% tax on Bitcoin
Indian officials are expected to explore imposing a 28% goods and services tax on cryptocurrencies at the upcoming GST Council meeting. The goods and services tax (GST) Council, which is India’s top d...
South Korean Government Holds Off On Capital Gains Tax On The Crypto Market ⋆ ZyCrypto
Advertisement     When it comes to cryptocurrencies, several governments have been keen to impose taxes without providing clear regulations for consumer protection. Ho...
Over 60 million tax returns could be completed automatically, study says
Tom Werner | DigitalVision | Getty Images The IRS may have the ability to automate nearly half of tax returns, according to a working paper from the National Bureau of Economic Research. The agency co...
Uzbekistan Offers Tax Benefits For Crypto Miners Using Renewable Energy Sources
The new presidential decree published on April 27 will cause electricity prices pulled from the standard energy grid to increase by double. The Uzbekistan new law will support the use of solar power i...
India Plans to Impose 20% Tax on DeFi Transactions
India’s Central Board of Direct Taxes (CBDT) is planning on levying a 20% tax on interest earned from investing in decentralized finance (DeFi). Local news agency, the Economic Times, reported the dev...
Korean Finance Chief Nominee Wants Capital Gains Tax On Crypto Delayed To 2025 ⋆ ZyCrypto
Advertisement     Korea’s future Finance Chief Choo Kyung-ho mulls introducing a capital gains tax for financial investments and cryptocurrencies in 2025, Korea JoongA...
South Korea to Delay 20% Capital Gains Tax on Digital Asset Investments until January 2025
Choo Kyung-ho, South Korea’s new deputy prime minister and finance minister, announced that he would suspend taxation on stocks and cryptocurrency trading scheduled to be implemented next year for abo...
30% On Crypto Gains Not Enough; India To Tax DeFi Now
The Indian Government now wants to levy additional taxes on crypto by extending it to gains made from Decentralised Finance (DeFi). After the introduction of the 30% tax and 1% tax deducted at source ...
India Set to Impose a New 20% Tax on Cryptocurrencies
India is seeking new ways to tax citizens by levying charges on crypto income derived outside of the country. The tax department is mulling over the option to impose additional taxes on cryptocurrency...
U.K. Retail Giants Form Alliance To Demand End To ‘Shops Tax’
Retailers in the U.K.’s hardest hit town centers are suffering most from business rates claims the … [+] newly-formed Retail Jobs Alliance. (Photo by Christopher Furlong/Getty Images) Gett...