HSBC Holdings PLC (LON:HSBA) received a major boost on Tuesday, 22 February, upon reporting the annual results for the year ended 31 December 2021. The company reported $14.7 billion in profit after t...
Tag: Tax
China’s finance ministry on tax breaks, spending on homegrown tech
A worker in a dust-proof suit controls an LED epitaxy chip production line at a semiconductor workshop in Nanchang, Jiangxi Province, on Jan. 26, 2022. Future Publishing | Future Publishing | Getty Im...
Many Americans Will Be Getting Smaller Tax Refunds This Year. Here’s Why.
The flood of federal pandemic-relief money was welcome last year, but it is causing disappointment and confusion as taxpayers prepare their 2021 returns. Many will be getting smaller-than-expected ref...
Privacy rules, tax shelters and the future history of art
After a banner year of 2021 for individual object sales through nonfungible tokens (NFTs), 2022 is poised to be the year of MetaFi. A recap of Beeple, Christie’s, Visa and endless aping-in celebrities...
Crypto Tax Planning Can Help Investors Avoid Unpleasant Surprises
As the calendar continues to roll through 2022, and tax season gets firmly underway, there are a lot of conversations around how cryptoassets will influence the outcome of this filing and payment seas...
Tax incentives for Bitcoin miners proposed in Illinois and Georgia
Bitcoin miners will be happy with the introduction of the tax incentives in the State Tax exemptions for the sale and use of electricity in mining activities proposed by State lawmakers The USA is the...
IRS to activate second ‘surge’ team to handle millions of backlogged tax returns
Two weeks ago, the Internal Revenue Service said it was reassigning 1,200 staffers as a “surge team” of reinforcements tasked with cutting into a backlog that included millions of unprocessed returns ...
Young workers may see $800 more in their tax refunds this year
Many young workers may get an extra $820 in their tax refund this year because of the expansion of a key poverty-fighting credit, a new analysis found. The expanded Earned Income Tax Credit (EITC) wil...
The WSJ Tax Guide 2022: What to Know Now About Tax Filing and Refunds
Feb. 18, 2022 5:30 am ET Get ready for a wild tax season. Every year more than 200 million Americans sign and send income-tax returns to the Internal Revenue Service. But the 2022 filing season will b...
Here’s what the end of Covid tax breaks means for business owners
Samuel Corum/Bloomberg via Getty Images Rules around small business taxes have changed significantly in the last two years. This year is no exception as many of the various pandemic-era deductions and...
Georgia wants large crypto miners to be exempted from tax payments
Georgia is setting the pace in formulating laws that will attract crypto miners into the state. Five members of the state’s House of Representatives have tabled a bill that will exempt cryptocurrency ...
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad – Coinotizia
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, ...
Russia Looking At $13 Billion In Tax Collections If Crypto Bill Is Approved
Russia is making a headway in finalizing its crypto bill, with the Ministry of Finance seeking the assistance of the public in improving the regulation of digital assets by middle of next month. A pri...
Georgia lawmakers consider giving crypto miners tax exemptions in new bill
Five members of the Georgia House of Representatives have introduced a bill that would exempt local crypto miners from paying sales and use tax. On Monday, Georgia Representatives Don Parsons, Todd Jo...
Colorado to Start Accepting Cryptocurrency as Pay for State Tax Payments
Key takeaways: The state of Colorado in the US is taking great strides towards introducing crypto use cases for people living in or around the city. The current governor, Jared Polis, proposes that b...
Georgia becomes latest US state to weigh tax incentives for Bitcoin miners
advertisement Legislation filed earlier this week indicates that George is the latest US state to consider potential tax incentives for cryptocurrency miners that operate in the state. Georgia House B...
Russian government proposed crypto mining tax reduction bill
Crypto mining has become a notable passive income source. In several nations, many seek to mine digital assets as their secondary source of income. Before last year’s Chinese crypto ban, the nation wa...
US State Wants to Lead in Crypto Acceptance — Colorado to Accept Crypto for Tax Payments This Summer – Regulation Bitcoin News
The U.S. state of Colorado is preparing to accept cryptocurrency for tax payments, said Governor Jared Polis. “We expect to accept crypto by this summer,” he said, adding that after tax payments, cryp...
Venezuelan Government Approves New Tax for Cryptocurrency and Foreign Currency Transactions – Coinotizia
The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, cal...
Official Tax Plans Boost India Crypto Exchanges as Sign-Ups Surge
India’s proposal to tax cryptocurrency profits 30% has proven to be a boon for the country’s crypto exchanges, having provided a tacit approval of the digital assets. Since the government unveiled tax...
Illinois lawmakers want to attract Bitcoin miners to the state with data center tax incentives
advertisement Legislation moving through the Illinois General Assembly would, if approved, extend a data center tax incentive program to cryptocurrency miners. Illinois Senate Bill 3643 was first fil...
India’s crypto tax provides little legal clarity for traders and exchanges
Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a tax proposal that would bring the relatively unregulated digital asset space under the purview of tax authorities. The propo...
Russia Goes Bullish On Bitcoin With Proposed Crypto Mining Tax Reduction ⋆ ZyCrypto
Advertisement     The Russian Ministry of Economic Development (RECD) has announced that it would cut a significant percentage of taxes on Bitcoin mining activities wi...
Colorado Governor Announces Plans To Accept Crypto For Tax Payments
Colorado Governor Jared Polis has announced that the state is preparing the groundwork to begin accepting crypto for tax and other official payments. Governor Polis made the announcement during an app...
Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax – Coinotizia
Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get...
State of Colorado To Accept Crypto For Tax Payments By Summer 2022
Jared Polis – Governor of Colorado – recently announced plans to accept cryptocurrency for tax payments in his state. Taking a similar approach to Miami Mayor Francis Suarez, Colorado may even launch ...
Colorado Will Accept Crypto For State Tax Payment
Colorado residents will be able to pay their state taxes in cryptocurrency by the middle of this year, according to the state’s governor. The governor also said that the objective is to eventually acc...
Colorado To Become First State To Accept Bitcoin (BTC) for Tax Payments
Colorado will become the first US state to accept crypto assets for payment of taxes, according to its governor. In a new interview with CNBC, Governor Polis says that citizens of the Centennial State...
Gas Tax Holiday Could Backfire On Democrats
Gasoline prices are displayed at a station Friday, Dec. 10, 2021, in Shoreline, Wash. Prices for … [+] U.S. consumers jumped 7.5% in recent months as surging costs for food, energy, housing, aut...
Bitcoin And Other Altcoins To Be Accepted For Tax Payment In Colorado
The race is on to become the first state to accept cryptocurrencies in the US. Jared Polis, the governor of Colorado, has just announced that the state will begin accepting crypto for taxes. The plan ...
Cryptocurrency Front And Center In Revised IRS Voluntary Disclosure Practice
The Internal Revenue Service announced today that the Voluntary Disclosure Practice Preclearance Request and Application has been revised. The IRS’s Voluntary Disclosure Practice has been around for y...
US State Colorado Will Accept Bitcoin For Tax Payments Starting This Summer ⋆ ZyCrypto
Advertisement     Colorado Governor Jared Schutz Polis has just announced that his state will begin accepting Bitcoin for tax payments starting this ...