tax authority – 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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China Fines Bitmain $3.6 Million for Tax Violations, Report

DIGIT — Thu, 13 Apr 2023 06:04:57 +0000

Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices […]

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NFT Creators Investigated in Israel for Alleged Tax Evasion

DIGIT — Mon, 06 Mar 2023 07:30:21 +0000

Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority […]

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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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Brazilian Tax Authority RFB Registers New Record of Almost 1.5 Million Brazilians Investing in Crypto in September

DIGIT — Tue, 08 Nov 2022 12:30:40 +0000

The Brazilian Tax Authority RFB registered a new record in the number of Brazilians that invested in crypto, in the month of September. The institution informed through its monthly reports that almost 1.5 million people had purchased crypto during Sept. The number of crypto investors in Brazil increased since August when a little more than […]

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South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal

DIGIT — Sat, 24 Sep 2022 06:30:27 +0000

The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021. Almost 260 Billion Won in Crypto Seized for Tax Evasion in South Korea The amount of […]

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Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

DIGIT — Sat, 30 Jul 2022 20:00:35 +0000

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash […]

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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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Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts

DIGIT — Sat, 12 Feb 2022 06:30:46 +0000

The Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpayers have in digital wallets if they have debts with the organization. The recommendation for attorneys of this institution to include these digital accounts was made last year, but the execution of debt collection was suspended during the Covid-19 pandemic period. […]

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