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A new draft introducing amendments regarding the taxation of crypto incomes has been published in Poland. The bill differentiates between decentralized cryptocurrencies and centralized virtual money, and clarifies the tax regime applicable to crypto trading and mining. Also read: Eastern Europe: Regulation Postponed, Tax Abandoned, Banks Enlightened Draft Distinguishes Between Cryptos and Centralized Coins … Read more
Two Norwegian cryptocurrency miners have garnered national media attention after declaring taxable incomes of less than $20,000 USD despite having admitted to owning at least 34 bitcoins during December of last year. Also Read: GPU Manufacturing Giant Nvidia Leaves Crypto Mining Reported Incomes of Two Norwegian Crypto Miners Subject of National Scrutiny Twenty-two-year-old cryptocurrency miners from … Read more
The South African Revenue Service is working to improve the tracking of cryptocurrency traders and their transactions in order to verify if they are paying taxes. According to its Commissioner, the agency is exploring ways to better identify those that are profiting from trading digital assets and check if they are evading taxation. Also read: … Read more
Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. … Read more
A draft law prepared by deputies and representatives of the industry aims to introduce light taxation of crypto incomes in Ukraine. Businesses and individuals will be required to pay 5% on their profits from trading and mining cryptocurrencies when exchanged to fiat. Add to that the mandatory ‘military charge’ of 1.5% all Ukrainians owe the … Read more
Cryptolinc Co. Ltd, which develops and provides cryptocurrency management and calculation systems, and Miroku Information Service Co. Ltd, a financial and accounting system management and information service, have jointly created a crypto corporate accounting tool for corporate cryptocurrency accounting. Also Read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax Cryptolinc … Read more
South Korea’s top financial regulator is planning a major organizational restructuring that includes introducing some new crypto policy initiatives. A bureau dedicated to financial innovations that include cryptocurrencies is being set up. In addition, an agreement with Chinese authorities relating to crypto and initial coin offerings has also been reached. Meanwhile, the contracts between Korean … Read more
The Japanese NTA (Tax Agency) has announced a new strategic policy put in place by July 15th to promote and improve the environment for people and companies to spontaneously declare their virtual currency income tax returns. Also read: Japan Contemplates Scrapping Its Progressive Crypto Tax Rate NTA to Devise Simplified and Automated Tax Return Filing Method … Read more
Australia’s financial press is expecting that the Australian Taxation Office (ATO) will take a hard stance on cryptocurrency investors this tax season, with the ATO recently vowing to leverage international data-matching agreements in order to track the taxation obligations of Australian cryptocurrency traders. Also Read: The Weekly: Coinbase Custody Opens, Malta Adopts Crypto Law, Bittrex Invades … Read more
The Thai Securities and Exchange Commission (SEC) has officially announced its regulations for initial coin offerings (ICOs). The rules specify requirements for ICO portals, issuers, as well as who can invest in tokens. The Commission has also provided a series of infographics to explain the regulations. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space … Read more
