Crypto tax is trending across the globe as more and more country are revealing their crypto taxation policy. The latest addition to list is Venezuela, where the government has announced a levy of 20% ...
Tag: Tax
If Russia regulates the market, Moscow could pocket $13 billion in crypto tax each year
While Moscow continues weighing its options for regulating cryptocurrencies, preliminary estimates suggest that Russian authorities could collect up to $13 billion (1 trillion rubles) from taxing the ...
Lawmaker Takes Aim at Puerto Rico as Crypto Tax Haven
In brief A Congresswoman’s comments reveal growing hostility to Puerto Rico’s crypto millionaires. But it’s unlikely that policy change will follow anytime soon. Stories about crypto...
Kazakhstan Suggests A 500% Tax Increase; Some Eye Relocating To The US, Russia
Bitcoin mining rigs are facing problems all over the globe. First, miners were evicted from China and later shifted to Kazakhstan. With its bountiful natural gas and cheap power, Kazakhstan led to min...
New tax proposal in Kazakhstan could push crypto miners out
Kazakhstan may soon prove to be a hostile location for crypto miners as the Asian country’s government has proposed a hike in its electricity tariff and taxes for crypto miners. Kazakhstan proposes ha...
Crypto Tax: Kazakhstan Recommends Tax On Cryptocurrency Miners
Kazakhstan’s national grid operator has begun restricting energy to the country’s largest customers, with cryptocurrency mining farms presumably being the target. Officials might be rethinking their r...
Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year – Taxes Bitcoin News
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government h...
Russia Might Collect 1 Trillion Ruble in Crypto Tax, Report Says
A recent report by a Russian outlet says that the government could collect 1 trillion rubles worth around $13 billion in digital currency tax every year. The Bell collected some not-so-classified data...
ZenLedger Announces Fantom Support for Crypto Tax Reporting
ZenLedger recently announced native support for the Fantom network. The integration will allow Fantom users to access crypto tax reporting services. The solutions will help the users simply calculate ...
Simple math says Russia could collect up to $13B in crypto tax each year
The Russian government is expected to collect up to 1 trillion rubles ($13 billion) in crypto tax each year, as per an estimation by the authorities. The Bell, a local Russian publication, reportedly ...
India: Here’s what’s next for crypto-exchanges after new tax slab news
A grave setback engulfed India’s cryptocurrency market last week when the country’s government introduced a 30% tax on digital asset income. While some have heralded it as a step towards the legitimiz...
Kazakhstan floats 500% tax increase on Bitcoin miners, leading some to eye relocation
Kazakh authorities have floated tighter regulatory conditions for bitcoin miners in recent days — a state of affairs that could spur some operations to leave the country for friendlier shores. As loca...
US House Representatives Propose Tax Relief Bill for Small Crypto Transactions
Members of the U.S. House of Representatives are proposing a bipartisan bill that would create a taxing structure for crypto assets and provide relief for those who use digital assets in small transac...
Venezuelans to part with up to 20% as tax on crypto and foreign currency transactions
Venezuelans will now be subject to an up to 20% tax on cryptocurrency transactions after the approval of a new tax bill. The tax bill will target financial transactions made in digital currencies such...
Venezuela to put 20% tax on transactions in cryptocurrency
It is being seen as a general trend that although governments across countries make cryptocurrencies legal tenders, but in process, they also levy heavy taxes. The Government of Venezuela recently has...
Venezuela announces 20% tax levy
TL; DR Breakdown Venezuela levy 20% crypto tax payments on transactions The bill will push the adoption of the Petro Venezuela wants a fairground between crypto and Petro The crypto sector has been do...
Venezuelan Parliament Hit Local Firms With 20% Crypto Transaction Tax
After the Venezuelan parliament approved a law aimed at reducing inflationary pressure on the struggling fiat bolivar, certain crypto and foreign currency transactions would be taxed at up to 20%. Ven...
Venezuela: New tax regime levies upto 20% tax on cryptocurrency transactions
A taxation frenzy has gripped cryptocurrency markets worldwide, as several countries introduced tax regimes for the nascent asset class over the past few weeks. The latest such development has popped ...
Russian lawmaker proposes 15% tax on crypto miners
As per local media reports, one of the leading Russian lawmakers has proposed a minimum 15% tax on crypto miners. Vladimir Gutenev, the head of the state Duma industry committee believes that crypto m...
Bitcoin family Taihuttus Immigrates to Crypto Tax Haven Portugal
“Bitcoin family” Taihuttus immigrated to the crypto tax haven Portugal due to a 0% tax on cryptocurrencies, CNBC reported on Feb. 6. After travelling to 40 different countries in five years, the Dut...
Venezuelans reportedly hit by new Bitcoin tax of up to 20%
The Venezuelan government has approved a new tax bill aiming to collect up to 20% in taxes from cryptocurrency transactions, according to local reports. Venezuela’s National Assembly held the second d...
Bitcoin family Taihuttus Immigrated to Crypto Tax Haven in Portugal
“Bitcoin family” Taihuttus immigrated to the crypto tax haven Portugal due to a 0% tax on cryptocurrencies, CNBC reported on Feb. 6. After travelling to 40 different countries in five years, the Dut...
DAOs tax consideration and legal implications
DAOs or decentralized autonomous organizations are managed by a computer program powered by the potential blockchain technology. These organizations are run by a group of individuals who collectively ...
U.S. Introduced Crypto Tax Fairness Act to Adopt Crypto As Payment Method
The U.S lawmakers have released Crypto Tax Fairness Act on Monday to accelerate cryptocurrencies’ adoption in the mainstream. The act aims to make digital currency legitimate as a payment method. This...
U.S. Lawmakers seeks wide crypto adoption: Introduced Virtual Currency Tax Fairness Act
U.S lawmakers introduced a bill to expand the adoption of cryptocurrencies for payments in the country. Anyone has to keep track and record the translation they make using crypto, which puts it at a d...
Venezuela passes new tax for crypto and foreign currency investments
The global crypto regulatory framework has significantly evolved, and this has largely been attributed to the increased rate of adoption. As one of the largest crypto economies globally, Venezuela has...
Decentralized autonomous organizations: Tax considerations
A decentralized autonomous organizations (DAO) is an organization that is managed by a computer program powered by blockchain and run by a group of individuals who collectively vote to decide on organ...
New Bipartisan Tax Bill to Alleviate IRS Reporting Burden
The new tax bill removes the burden of reporting micropayment transactions during the tax season in the U.S. Representative Suzan DelBene and David Schweikert have submitted a bill regarding a tenable...
Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says – Mining Bitcoin News
Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction o...
Crypto Weekly Roundup: India’s Crypto Tax, FTX Acquires Liquid, SEC Rejects Fidelity ETF, And More
India steps into a new era as crypto-assets become legalized with the announcement of a flat 30% tax on all digital earnings in the 2022 Budget Speech. It marks a momentous occasion as most traders an...
Tax season: does the IRS know if you trade crypto? Is your NFT sale or mining income taxable?
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch. It is tax season in the U.S., and I’ll ...