Crypto will be levied 0.1% VAT from May in Indonesia The transactions will be closely monitored by the authorities The Commodity Futures Trading Regulatory Agency regulates the crypto industry in th...
Tag: Tax
India’s Crypto Trading Volume Plummets as New Tax Rules Enter Into Force – Regulation Bitcoin News
Crypto trading volumes in India have plummeted following the new tax law entering into force. The new rules impose a 30% flat tax on crypto income and do not allow losses to be offset against gains. N...
Indonesia to impose 0.1% crypto tax starting in May: Report
The Indonesian government is reportedly planning to charge a 0.1% capital gains tax on crypto investments as well as a value-added tax, or VAT, on digital asset transactions starting from May 1. Accor...
India Fears Decline in Crypto Trading Volumes; New Tax Regime Kicks In
India intends to frame new crypto legislation only after a global consensus occurs, which many industry veterans believe will only slow down the sector following the new taxation regime introduced on ...
Indonesia to impose 0.1% income tax for crypto transactions: report
An Indonesian tax official said Friday that the country plans to impose certain tax rates for crypto transactions. Reuters reported that Hestu Yoga Saksama told a media briefing that crypto transacti...
Florida Gov. DeSantis Wants To Punish Disney—But Won’t Go After Its Corporate Tax Breaks
Topline Florida Gov. Ron DeSantis (R) continued to go after Disney on Friday over its opposition to the state’s Parental Rights In Education Act (known to critics as the “Don’t Say Gay” law), saying h...
Indonesia’s New Crypto Tax Law Will Take Effect on May 1
Indonesia has joined a growing list of countries to impose taxes on cryptocurrency transactions and revenues. Indonesia Unveils Income Tax and VAT for Crypto An Indonesian tax official has revealed th...
Public outcry grows louder than ever as India’s 30% ‘crypto tax’ comes into effect
As people all around the world pull April Fool’s pranks on one another, countless Indian crypto investors and entrepreneurs are hoping the Indian government is playing one on them. However, that doesn...
Will Smith Oscars Slap Could Have Tax Impact Too
The Oscars may be over, but the repercussions of the slap may not be over for quite some time. Will the Academy take disciplinary action against Will Smith? Will Chris Rock change his mind and press c...
Biden Administration’s 2023 Tax Policy Includes Many Key Changes For Crypto Traders And Investors
President Joe Biden speaks about the March jobs report in the State Dining Room of the White House, Friday, April 1, 2022, in Washington. (AP Photo/Patrick Semansky) ASSOCIATED PRESS What Happened On ...
Law Project Presented in Argentinian Senate Proposes to Tax Undeclared Cryptocurrency Held Outside the Country – Bitcoin News
A new law project presented in the Argentinian Senate is seeking to start a fund to pay for part of the debt the country has with the International Monetary Fund (IMF). The project, which is being pus...
Amid Spiking Gas Prices, Biden & California Democrats Propose Tax Hikes On Energy Suppliers
U.S. US President Joe Biden speaks at Long Beach City College. (Wally Skalij / Los Angeles Times via … [+] Getty Images) Los Angeles Times via Getty Images High gas prices have prompted governor...
Indian Parliament Passes Law Charging 30% Capital Gain Tax on Crypto – crypto.news
Earlier today, the Indian Rajya Sabha approved a new rule that taxes 30% on digital currency holdings and transfers. This comes after the lower house passed the law to tax cryptocurrencies barely a fe...
30% crypto tax becomes law in India following Finance Bill approval
The Indian Finance Bill 2022, with new 30% crypto tax rules, was approved on Thursday by the Rajya Sabha, the upper house of the Indian parliament, to make it a law, which will come into effect starti...
Five Reasons Why Koinly Is the Best Crypto Tax Software – Sponsored Bitcoin News
sponsored Koinly is a leading a cryptocurrency tax calculator and portfolio tracker for traders, investors and accountants. There are many features that make it stand out from the competition, and thi...
Why Biden’s billionaire minimum income tax may be a tough sell
Josh Gottheimer, D-N.J., talks to reporters in Washington, Nov. 4, 2021. Elizabeth Frantz | Reuters President Joe Biden has proposed a new tax on the ultra-wealthy as part of his 2023 federal budget, ...
India’s 30% tax on crypto assets to be effected on April 1
The cryptocurrency market in India is about to change with the new taxation framework starting on April 1. Gains made from cryptocurrency transactions will be subjected to the tax set for virtual digi...
How Crypto Tax Software Can Simplify Your Taxes
This post is part of The Rollup, Decrypt’s curated collection of stories presented in partnership with Koinly. If you currently hold cryptocurrency in your portfolio or you have traded crypto ov...
Crypto Tax Mistakes That Can Be ‘Very Costly’ Ahead of April Implementation, Indian Tax Counselor Weighs in
The new taxation regime for virtual digital assets is set to take effect in India from April 1. Meanwhile, investors have been looking at ways to reduce their tax liability. Some are even considering ...
South American Country put 20% tax on transactions in cryptocurrency and foreign currency
Recently seen as a general trend that although governments across countries make legal tender to cryptocurrencies in process, they also put on heavy taxes The Government of Venezuela recently has mad...
The Chairman Of The Senate Finance Committee Is Looking Into The Absence In Protections For Cryptocurrencies Tax Breaks
Interview with Huffpost in which CEO Tom Frazier indicated his business 100% would have established a mining operation with or without the tax benefit, Wyden questioned Redivider’s genuine motivation ...
Biden’s tax proposal seems hostile as it threatens crypto investors –
Applying the tax can be complex because valuation of several assets can be subjective Unclear whether unrealized losses would be taken into account Experts opined that this plan will not pass Congres...
Argentinian Tax Agency Amps Up Scrutiny for Crypto Traders and Holders With New Requirements – Bitcoin News
The Argentinian Tax Agency (AFIP) is watching the movements of cryptocurrency traders and holders, to tighten its control over their transactions. The institution is now sending emails to Argentinian ...
Crypto donation startup launches IRS form as US tax season looms
Engiven, an enterprise cryptocurrency donation platform, is working to simplify tax reporting for cryptocurrency donors and nonprofits by launching a tax form and appraisal service for crypto donation...
Senate Fears That Crypto Firms Could Exploit Opportunity Zone Program For Tax Break
The Senate Finance Committee Chairman Senator Ron Wyden is looking into the activities of crypto firms that are taking advantage of tax breaks provided by the Opportunity Zone program. The senator is ...
White House Expects to Raise over $10b in Revenue under New Crypto Tax Rules
On Monday, The Biden Administration released its budget plan for the fiscal year of 2023. The budget proposal, which totals $5.8 trillion with a $1.15 trillion deficit, features some hints on the admi...
India: Probe into crypto exchanges reveals over $10.7 million in tax irregularities
11 crypto exchanges were probed under investigation in India for alleged evasion of goods and services tax (GST). The quantum of evasion is valued close to INR 81 crore (~$10.7 million) as per The Tim...
Biden’s New Minimum Tax On Billionaires Is Just Another Economy-Killing Tax
President Biden’s addiction to economy-killing taxes remains intense, as a new idea in his proposed budget unfortunately confirms. Biden’s latest scheme would hit rich people with a 20% minimum tax on...
A billionaires tax is a necessity. Even the White House knows it
President Biden has proposed a billionaires tax. (Evan Vucci / Associated Press) After years of largely theoretical discussion among Democrats, the idea of a billionaires tax has now become official p...
Biden’s Wealth Tax Proposal Would Target More Than Billionaires
Text size President Joe Biden’s new budget proposal includes a wealth tax it says would target the top 0.01% of households. Anna Moneymaker/Getty Images About the author: Thomas Hoenig is a dist...