Tax agency – DIGIT INFO

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

DIGIT — Sun, 08 Jan 2023 09:30:52 +0000

Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders had failed to report digital assets exceeding $50 million in value. Law Enforcement and Tax Authorities in Romania Go After […]

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Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies

DIGIT — Wed, 03 Aug 2022 11:30:06 +0000

South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets […]

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Tax Agency Starts Checking Crypto Traders in Romania

DIGIT — Sun, 03 Jul 2022 13:00:43 +0000

Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. Tax Authority in Romania Verifies […]

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Australian Taxation Office to Focus on Capital Gains From Crypto Assets

DIGIT — Wed, 18 May 2022 10:00:21 +0000

The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns. Australian Taxpayers Warned They Should […]

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Report: Only 5.3% of Spanish Crypto Investors Have Received a Warning to Declare Income Taxes

DIGIT — Tue, 26 Apr 2022 04:30:40 +0000

Only 5.3% of Spanish crypto investors have received a warning to declare income taxes, according to a report in local media. If accurate, this would mean that only 233,000 investors, a minuscule portion of the estimated 4.4 million Spanish citizens that have delved into the crypto world with investment ideas in mind, were contacted by […]

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Colombian Tax Authority Warns About Consequences of Not Declaring Crypto Related Taxes

DIGIT — Sun, 03 Apr 2022 10:19:47 +0000

The Colombian tax authority, DIAN, has reminded taxpayers that they need to start registering cryptocurrencies in their statements starting this year. The director of the DIAN, Lisandro Junco, reminded cryptocurrency users that this kind of asset is taxed as any other asset held by citizens. Colombia has already collected $1 billion in digital economy-related taxes. […]

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The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal

DIGIT — Sun, 17 Oct 2021 21:00:07 +0000

U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are mischaracterizing the proposal. Biden Administration’s […]

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Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply

DIGIT — Wed, 06 Oct 2021 20:00:11 +0000

The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and she insists financial information concerning where income derives from can get “hidden.” Janet Yellen […]

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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600

DIGIT — Thu, 16 Sep 2021 12:30:28 +0000

On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 worth of transactions or […]

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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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