tax administration – DIGIT INFO

Tax Authority Slated to Become Main Crypto Regulator in Russia

DIGIT — Wed, 17 May 2023 10:25:56 +0000

Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service […]

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South African Tax Body Updates Crypto Tax Guidance, Confusion Persists

DIGIT — Thu, 02 Sep 2021 13:30:06 +0000

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 […]

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Slovenia Prepares to Impose 10% Tax on Spending and Selling Cryptocurrency

DIGIT — Tue, 31 Aug 2021 12:00:44 +0000

The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for transactions involving the spending or converting of cryptocurrencies into fiat money. Tax Office Wants to Simplify Crypto Taxation in Slovenia The Financial Administration […]

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Iranian Tax Authority Urges Regulators to Legalize Cryptocurrency Exchanges

DIGIT — Thu, 12 Aug 2021 11:00:33 +0000

The Iranian National Tax Administration (INTA) has put forward a proposal to tax digital asset exchanges operating in the country. The authority calls for the legalization of their activities, fearing restrictions could negatively affect tax collection. Tax Agency Wants to Obtain User Data From Authorized Exchanges Seeing an opportunity to use exchange transactions as a […]

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Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

DIGIT — Sat, 29 May 2021 11:36:55 +0000

Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency transactions. Tax Office […]

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Iranian Tax Agency to Profile Owners of Cryptocurrency Exchanges

DIGIT — Sun, 16 May 2021 09:00:01 +0000

Cryptocurrencies have been a cause for concern in Teheran as the digital assets have attracted capital from other, traditional markets. The parliament’s leadership has now asked the tax agency to profile the owners of Iranian platforms facilitating cryptocurrency trading and report to the Majlis. Parliament Speaker Asks Tax Agency to Report on Crypto Trading Platforms […]

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Finland Has Identified Thousands of Bitcoin Traders Who Owe Taxes

DIGIT — Mon, 23 Apr 2018 16:00:06 +0000

The Finnish government has revealed the number of taxpayers who owe taxes from bitcoin-related income. The country’s Tax Administration claims to have “different ways to combine information and identify people” who owe taxes from crypto profits, which are now “well over ten times higher than last year.” Also read: Russian Regulators Draft Law to Restrict Crypto […]

The post Finland Has Identified Thousands of Bitcoin Traders Who Owe Taxes appeared first on Bitcoin News.

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