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The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house […]Powered by WPeMatico
India’s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. “We have a long list of people who were transacting in crypto assets but were not paying tax,” said an official with the country’s Central Board of Direct Taxation. Indian Tax Authority Going After […]Powered by WPeMatico
The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities, or reported them erroneously. This action seeks to thwart cryptocurrency-related tax […]Powered by WPeMatico
The recently elected government of Bulgaria has found itself in the position of answering questions about the fate of billions of dollars’ worth of cryptocurrency reportedly confiscated by the country’s law enforcement five years ago. Meanwhile, the new finance minister has revealed that authorities in Sofia are now exploring options to implement a crypto payment […]Powered by WPeMatico
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.” Industry Wants Clarity in Crypto Tax Laws in Union Budget […]Powered by WPeMatico
India’s Directorate General of GST Intelligence (DGGI) reportedly raided major cryptocurrency exchanges Saturday. Their offices were searched and “massive goods and services tax (GST) evasion has been detected by DGGI.” Tax Authorities Say Cryptocurrency Exchanges Have Been Evading GST Tax India’s Directorate General of GST Intelligence (DGGI) reportedly raided major cryptocurrency exchanges across the country […]Powered by WPeMatico
The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from the IRS,” said acting U.S. Attorney Chad Meacham. Crypto Firm’s Founders Face up to […]Powered by WPeMatico
As bureaucrats across the globe continue to ask the common citizenry for access to every financial decision they make, politicians and celebrities worldwide are hiding large amounts of wealth in tax havens according to the Pandora Papers. While American politicians like the Biden administration claim to be against tax corruption, some people view the U.S. […]Powered by WPeMatico
NFT’s could be a vehicle to legitimize ill-gotten gains for the crypto elite.
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Afek Zard, a resident of Israel, has been sentenced to eight years in prison for embezzling a large sum of cryptocurrency that belonged to a friend of his. The man, who refused to cooperate with the investigation, will have to pay a hefty fine as well. Israeli Resident Sentenced for Cryptocurrency Theft The 27-year-old Zard […]Powered by WPeMatico