To prevent entrepreneurs from leaving the nation, Japan should minimize corporate taxes on crypto businesses, according to Sota Watanabe, the CEO of Web3 infrastructure company Stake Technologies Pte....
Tag: Taxation
Ethanol Industry Wants to Bury Its Carbon, but Some Farmers Stand in the Way
GOLDFIELD, Iowa—As climate-change concerns grow, ethanol plants like the one in this town of 630 surrounded by 10-foot-tall corn stalks are eager to join new pipeline networks that aim to carry carbon...
Got Hidden Income? The IRS May Get More Money to Find You
If Congress passes the Inflation Reduction Act, Americans should expect more IRS audits—especially on filers making more than $400,000 a year. The surprise agreement between Sens. Chuck Schumer (D., N...
‘We expect it to be removed’: Democrats’ push to close ‘carried interest loophole’ in jeopardy as Sinema seeks to block effort
Sen. Kyrsten Sinema has signaled her opposition to closing a controversial tax loophole that allows carried interest to be taxed as capital gains instead of income, according to multiple reports. As a...
Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class
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New Bipartisan US Senate Bill Seeks To Exclude Small Crypto Transactions From Taxation
Republican Senator Pat Toomey of Pennsylvania and Democrat Senator Kyrsten Sinema of Arizona are proposing a new law that would exempt small personal crypto transactions from taxation. Under the curre...
US Senators propose bill to exempt crypto transactions under $50 from taxation
A bipartisan bill from Senators Patrick Toomey (R-Pa.) and Kyrsten Sinema (D-Ariz.) proposes tax exemptions on crypto transactions up to $50. If passed, the Virtual Currency Fairness Act will unburde...
Raymond James’ Darren Coleman: How I Serve Cross-Border U.S.-Canada Clients
Americans mulling a move to Canada might think the financial transition would be a piece of cake. After all, both countries are democracies with advanced banking systems. What could go wrong? Actually...
South Korean Government Postpones 20% Taxation on Crypto Assets Till 2025
The South Korean government announced Thursday the suspension of the 20% tax imposed on crypto incomes set within the limit of 2.5 million won ($1,942.20) till January 2025, citing “the lack of an inv...
Mon Abrea on Crypto Taxation in the Philippines
Mon Abrea – a celebrity tax accountant in the Philippines – recently offered his view on future crypto tax legislation in the Asian country. Mon Abrea Doesn’t See Heavy Crypto Taxation in the Future M...
IRS Gives Wealthy Families More Time to Shelter Assets from Estate Tax
The federal government is giving widows and widowers more time to deal with the intricacies of the estate tax after a spouse dies. When one spouse dies, their partner often inherits all or part of the...
Bank of Mexico Minutes Show Board Open to More 0.75-Point Rate Increases
MEXICO CITY—Bank of Mexico governors all agreed to raise the reference interest rate by three-quarters of a percentage point last month to rein in inflation, and most are willing to consider further i...
The IRS audited ex-FBI director James Comey and former deputy Andrew McCabe. What are the odds?
In recent years, the Internal Revenue Service has been processing around 150 million to over 160 million tax returns annually, doing the work with a shrinking staff and an inflation-adjusted budget th...
How inflation affects 2023 tax brackets: You may get an unexpected ‘tax cut’
As you probably know, the federal income tax rate brackets, and many other federal tax parameters, are indexed for inflation using a factor based on the monthly average of changes in the chained Consu...
Crypto Trading Volumes In India Sink Due To Heavy Taxation, What’s Ahead?
Cryptocurrency trading is taking another pattern and shape in India due to the implementation of taxation laws. As a result, the traders are experiencing a different turn in their transactions lately ...
U.K. Wants Public Views on Taxation of DeFi Loans and Crypto Staking
The United Kingdom (UK) has launched a call for evidence seeking public views on the taxation of crypto-backed loans and staking in the context of decentralized finance (DeFi). The call for evidence ...
UK Opened Consultation On Crypto, DeFi, And Staking Taxation
The U.K. HM Revenue & Customs (HMRC) agency opened a consultation on the state of crypto taxation, specifically for decentralized finances (DeFi). This call for evidence will have an 8-week durati...
UK government seeks public input on DeFi taxation
The government of the United Kingdom is asking the public for input on the taxation of crypto asset loans and staking in the context of decentralized finance (DeFi). DeFi is an umbrella term that refe...
The new Simplification Decree on taxation
Decree Law No. 73 of 21 June 2022, published in the Italian “Gazzetta Ufficiale” on 21 June, has been called the Simplification Decree on taxation. However, among the various regulations, there is one...
Opinion: Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better.
NEW YORK (Project Syndicate)—The global financial and economic outlook for the year ahead has soured rapidly in recent months, with policy makers, investors, and households now asking how much they sh...
3 big problems with Congress’ new retirement reforms
A new set of reforms to America’s retirement tax and savings plans passed a key hurdle in Congress last week. Variously known as the SECURE Act 2.0, the EARN Act and the RISE & SHINE Act, the meas...
Albania Looks to Introduce Crypto Taxation From 2023 Says Report
Albania is reportedly planning to tax income generated from crypto assets from 2023, according to a new draft law. Exit News reported that the tax draft will become law by end of this year, making way...
Biden Proposes Gas Tax Suspension. That’s Not Why Oil Prices Are Falling.
Text size Crude prices fall as the Biden administration takes more steps to try to lower gasoline prices. Mario Tama/Getty Images Oil prices were falling Wednesday as President Joe Biden prepared to a...
How Indian Taxation System can be Painful for Terra LUNA Investors
The sudden crash of the Terra Luna in early May was a black event that resulted in severe consequences for its investors and the crypto environment. Many investors lost their life savings, parked in t...
Opinion: The cloud boom is coming back to earth, and that could be scary for tech stocks
Cloud computing is widely viewed as a recession-resistant business, but the theory has not really been tested since cloud-service providers have not experienced a major economic downturn since becomin...