Bookmarking Crypto Insights
Auto Added by WPeMatico
US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains or losses on ‘forked assets’ until the IRS issues sufficient guidance on how … Read more
The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary … Read more
The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday … Read more
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022. Go to Source Powered by WPeMatico
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans Reject Tax on Crypto Profits According to the poll, a … Read more
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. Go to Source Powered by WPeMatico
Crypto transactions in Kenya now attract a 1.5% tax. Go to Source Powered by WPeMatico
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear Go to Source Powered by WPeMatico
India’s government could levy taxes on Bitcoin trading despite the lack of legal clarity for the country’s crypto space. Go to Source Powered by WPeMatico
Argentina’s Senate approved an extraordinary one-time wealth tax to fight the coronavirus pandemic by seeking to boost government revenue and targeting millionaires with assets of more than 200 million pesos ($2.5 million). At the same time, the country still faces a 35% inflation. Argentinean Senate Approves New Taxes, While Bitcoin Keeps Skyrocketing Against the Argentine … Read more