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Tax exemptions on profits from crypto-related transactions have been proposed during a meeting at the Ministry of Economic Development of Russia. Participants also called for a 10 fold increase of the limit for individual investments in ICOs. Russians should be allowed to open accounts with foreign exchanges, officials insisted. Also read: Russian Lawmaker Proposes […]
The post Crypto Tax Breaks Proposed by Officials in Russia appeared first on Bitcoin News.
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Popular cryptocurrency exchange Coinbase has been forced by court order to hand over thousands and thousands of its customers’ names and assorted personal information to the US Internal Revenue Service (IRS) in the agency’s effort to collect tax. Also read: How To Regain Control From Nanny Zuck Coinbase Sends Out IRS Notice “Received notice from […]
The post Coinbase Compelled by IRS to Provide 13,000 Customers’ Information appeared first on Bitcoin News.
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Israel Tax Authority issued a professional circular on February 19 (4 Adar 5768), clarifying the country’s tax policy on cryptocurrencies in general and bitcoin in particular. “Bitcoin and its like” are discussed in what’s referred to as a “final circular” on crypto and value-added tax (VAT) along with capital gains. Also read: Switzerland Enacts ICO Guidelines […]
The post Israel Tax Authority: Bitcoin is Property, Not Currency appeared first on Bitcoin News.
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Reports have indicated that some investors are relocating in search of alternative taxation regimes in order to avoid heavy capital gains taxes. Japan currently taxes capital gains on profits derived through virtual currency trading at between 15% and 55%. Also Read: India’s Tax Department Issues Notices to 100,000 Crypto Investors Japanese Crypto Traders Prepare for Tax […]
The post Japanese Crypto Investors Flee Capital Gains Taxation of up to 55% appeared first on Bitcoin News.
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The largest free economic zone in the UAE, with zero percent personal and corporate income tax, has started issuing licenses to firms trading cryptocurrencies. The first license has been issued to a gold trader that has recently started offering cryptocurrency services. Also read: Japan Cracks Down on Foreign ICO Agency Operating Without License Attracting Crypto Businesses […]
The post Dubai Issues License to Cryptocurrency Firm appeared first on Bitcoin News.
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India’s Income Tax Department recently announced that it has issued notices to 100,000 cryptocurrency investors. The announcement came in light of government surveys into the operations of multiple leading Indian exchanges that have revealed widespread tax evasion on the part of India’s cryptocurrency traders. Also Read: India’s Finance Minister Confirms Crypto Not Recognized as Legal Tender, […]
The post India’s Tax Department Issues Notices to 100,000 Crypto Investors appeared first on Bitcoin News.
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As the adage goes, there are two certainties in life: death and taxes. For any U.S. bitcoiners considering wriggling out of the latter, that task just got a little harder. The country’s Internal Revenue Service has revealed that it’s bolstering its armory to make it easier to track down crypto tax evaders. It’s now assembled […]
The post The IRS Takes Its Tax Evasion Hunt to the Blockchain appeared first on Bitcoin News.
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A publicly traded Canadian crypto miner has just made a $8 million bet that all bitcoin users around the world will eventually be compelled to report their transactions to the taxman, and that they will help handling this oftentimes complex process. Also Read: Vegetables on a Blockchain ICO Exit Scams After Paying People to Write […]
The post Bitcoin Tax Reporting Software Developer Node40 Acquired for $8m appeared first on Bitcoin News.
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A Russian ministry is preparing a bill for the regulation of cryptocurrency mining which reportedly includes a “special system” to detect crypto miners. In addition, there may be a 2-year tax break for miners as well as energy quotas and special tariffs. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies System to […]
The post Russia Developing System to Identify Crypto Miners but Considers Giving Them Tax Break appeared first on Bitcoin News.
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The Ho Chi Minh City Customs Department has revealed that in the first 3 weeks of this month almost 8,000 mining rigs were imported into the city. This number exceeds the entire count of mining rigs imported into Vietnam last year. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations Nearly 8000 […]
The post Vietnam Imported More Mining Rigs in 3 Weeks This Month Than All of Last Year appeared first on Bitcoin News.
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