tax code – DIGIT INFO

Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

DIGIT — Wed, 13 Jul 2022 04:30:47 +0000

President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600

DIGIT — Fri, 10 Jun 2022 06:30:02 +0000

Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through a third-party payment network. US Residents Think […]

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Ukrainian Parliament Adopts Amended Virtual Assets Law

DIGIT — Fri, 18 Feb 2022 11:00:24 +0000

Ukrainian lawmakers have approved an updated version of legislation tailored to regulate the country’s crypto economy. The bill, which was first passed last year, was later returned to the legislature by President Volodymyr Zelensky who requested some changes. Majority of Ukrainian Deputies Back Law ‘On Virtual Assets’ Verkhovna Rada, Ukraine’s parliament, has adopted new legislation […]

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Lawmakers push back on crypto provisions in Infrastructure Bill

DIGIT — Thu, 18 Nov 2021 03:08:37 +0000

The latest proposal from a group of House Democrats seeks to change how updates to the tax code affect crypto entities “who do not engage in brokerage services.”

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Congress Passes $1.2 Trillion Infrastructure Bill — Crypto Advocates Criticize Amended Broker Definition, Tax Code 6050I

DIGIT — Sun, 07 Nov 2021 15:00:07 +0000

Congress has passed the Biden administration’s bill aimed at improving infrastructure, fighting climate change, and bolstering social services. The $1.2 trillion infrastructure bill, which also expands the definition of a broker, awaits U.S. president Joe Biden’s signature after passing with a vote of 228–206 on Friday. Bipartisan Infrastructure Bill Passes to the Tune of $1.2 […]

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Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

DIGIT — Mon, 13 Sep 2021 10:30:39 +0000

The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament. Amendments to Ukraine’s Tax Law to Regulate Accounting for Crypto […]

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Poles Hit With Backdated Tax on Crypto Trades

DIGIT — Mon, 16 Dec 2019 18:20:33 +0000

Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish tax administration recently clarified. The matter has been discussed on European […]

The post Poles Hit With Backdated Tax on Crypto Trades appeared first on Bitcoin News.

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Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin

DIGIT — Tue, 03 Sep 2019 15:00:20 +0000

Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature of decentralized digital assets. Not to mention how absurd […]

The post Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin appeared first on Bitcoin News.

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New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill

DIGIT — Sun, 03 Feb 2019 21:01:59 +0000

During the first week of the new year, two U.S. representatives from New Hampshire, Dennis Acton and Michael Yakubovich, proposed a bill that would allow the state’s residents to pay taxes with cryptocurrencies. Now after some deliberation, New Hampshire’s House Subcommittee unanimously approved the state’s bitcoin for taxes bill. Also read: US State of Ohio Accepts […]

The post New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill appeared first on Bitcoin News.

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