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Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions. Ahead of Election, Major Parties Support Tax Break for Crypto Investors … Read more
The long debate in the country’s legislature could soon be over meaning cryptocurrency gains made in South Korea may not be considered taxable events until 2023 at the earliest. Go to Source Powered by WPeMatico
Britain’s crypto exchanges will be levied with a 2% tax which is likely to be passed on to investors warned CryptoUK. Go to Source Powered by WPeMatico
“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner. Go to Source Powered by WPeMatico
Government officials waffling about the crypto tax that’s set to come into effect in 2022 has created a maelstrom of conflicting reports that even officials can’t seem to keep track of. Go to Source Powered by WPeMatico
Opposition lawmakers are seeking a one-year delay in the enactment of the law as well as a lowering of the tax burden on crypto traders. Go to Source Powered by WPeMatico
A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will … Read more
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in tax returns. Distinction Between Income and Capital Gains Tax As shown on SARS’ crypto-asset tax … Read more
Anna Eshoo has urged the House to amend the language in the controversial infrastructure bill. Go to Source Powered by WPeMatico
COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase’s growth. Go to Source Powered by WPeMatico
