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The Ministry of Economy and Finance has officially confirmed that South Korea will begin taxing virtual assets starting January 2027. Official Stance on Implementation Timeline A top South Korean finance official reportedly confirmed that the government intends to begin taxing virtual assets in January as originally scheduled, marking the first time the Ministry of Economy … Read more
Colombia’s Constitutional Court has declared President Gustavo Petro’s economic emergency decree unconstitutional, ending a 13-month effort to impose value-added taxes on the country’s online gambling sector through executive action. The April 9 ruling forces the government to pursue any future gambling tax through Congress. The presidential election is now less than seven weeks away. Key … Read more
Japan is moving from a punitive miscellaneous income tax of up to 55% to a flat 20.315% separate taxation regime, aligning crypto with traditional stocks. The reform introduces a three-year loss carryforward, allowing traders to offset gains against past losses, a major step toward treating crypto as a standard financial instrument. Key Takeaways: On March … Read more
India is intensifying scrutiny of cryptocurrency activity as tax authorities flag system-estimated income that may not reflect actual profits, issuing reassessment notices that could reopen past filings and pressure traders to justify discrepancies. Key Takeaways: India is issuing Section 148A notices that can reopen past crypto filings for review. Systems may flag estimated income that … Read more
Japan is moving deeper into the compliance phase of crypto regulation, and the latest push is less about approving new products or licensing exchanges than about making digital asset activity harder to hide from tax authorities. Japan officials expand crypto tax and compliance regime in new push for clarity New guidance and documentation published by … Read more
Crypto tax confusion persists despite widespread adoption, with most U.S. investors aware of obligations but struggling to execute accurately as new reporting rules and portfolio complexity widen compliance gaps across digital asset markets. Data Reveals Crypto Tax Chaos as Investors Face Costly Errors Rising participation in digital assets has exposed a gap between compliance intent … Read more
A measure would seek to smooth things over in Congress as President Luiz Inácio Lula da Silva shifts gears in anticipation of the upcoming elections. Dario Durigan, the recently confirmed Economy Minister, will focus on other issues to avoid losing further support from lawmakers. Crypto Taxation Plans Delayed as Lula Shifts Into Election Mode While … Read more
Yang, who campaigned in favor of a $1,000 universal basic income (UBI) back in 2020, stated that as more companies substitute labor with AI, there should be a shift to tax these artificial solutions rather than labor, as a popular backlash against the tech is brewing. Andrew Yang Vows to Tax AI Instead of Labor … Read more
South Korean lawmakers are once again tearing up the script on crypto taxation, this time with a proposal to scrap the levy altogether before it ever sees daylight. South Korea Crypto Policy Shift Could Remove Tax Burden Entirely According to the regional news publication Digital Asset, South Korea’s opposition party has introduced legislation to fully … Read more
South African crypto-asset service providers must now transmit detailed transaction data directly to the revenue collector, allowing for precise automated reconciliation and targeted audits. The End of the ‘Offshore Shield’ The South African Revenue Service (SARS) has, since March 1, used its most sophisticated tools to date to track crypto-assets and offshore financial interests. The … Read more