Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

Kazakhstan President Signs Law Increasing Tax Burden for Crypto MinersPresident 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 […]

Go to Source

Powered by WPeMatico

Cryptocurrency and Taxes: How to Use 2018’s Losses to Your Advantage

Taxes have been a hot topic in the cryptocurrency world this year. Many countries have been trying to figure out how to tax crypto assets, while traders have been figuring out how to lever them to write off losses. As bitcoin and other cryptocurrencies enter the mainstream, tax reduction strategies are starting to emerge. Also […]

The post Cryptocurrency and Taxes: How to Use 2018’s Losses to Your Advantage appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Japan Wants to Scrap Its Progressive Crypto Tax Rate

Japan Wants to Scrap Its Progressive Crypto Tax RateCryptocurrency traders in Japan currently can be taxed as high as 55% on their profits. However, the country’s Deputy Prime Minister, Taro Aso, wants to change how crypto transactions are taxed, from a progressive rate to a uniform rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Aso Wants to Change Crypto Taxation The Japanese […]

The post Japan Wants to Scrap Its Progressive Crypto Tax Rate appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

331 High-Income Traders Declared Crypto Profits in Japan

331 High-Income Traders Declared Crypto Profits in JapanThe Japanese tax authority has for the first time revealed the number of high-income taxpayers who declared cryptocurrency profits in the year 2017. Out of the total number of taxpayers with miscellaneous income of 100 million yen or more, excluding public pension, 60% of them reported income from crypto transactions. Also read: Yahoo! Japan Confirms Entrance […]

The post 331 High-Income Traders Declared Crypto Profits in Japan appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Tax Loophole Closing For South Korean Cryptocurrency Exchanges

Tax Loophole Closing For South Korean Cryptocurrency ExchangesThe South Korean government is working on taxing cryptocurrency transactions. While the media reports that up to 24.2 percent taxes will be collected this year from crypto exchanges, the regulators say that the tax rates have not been decided. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations What Tax Rates Apply To […]

The post Tax Loophole Closing For South Korean Cryptocurrency Exchanges appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico