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Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto tax law. Also read: Japan’s … Read more
The largest tax filing platform in India, Cleartax, together with Zebpay, one of the leading Indian cryptocurrency exchanges, is uniting efforts to help Indians with their crypto taxes. The partnership aims to educate bitcoin investors and traders about the current tax laws and how they apply to reporting cryptocurrency incomes and profits. Also read: 0 … Read more
The Organization for Economic Cooperation and Development (OECD) has issued a report to the G20 finance ministers and central bank governors. The report examines the accomplishments and aims of the OECD in advancing its efforts to “redefine the international landscape,” identifying new technologies cryptocurrencies and distributed ledger technology as posing unique challenges to “tax transparency.” … Read more
With the increasing popularity of bitcoin and the like, this year’s tax campaign in Europe comes with many questions on how to report and pay crypto taxes. Despite the obvious hesitation on the part of many governments to comprehensively regulate/legalize the sector, cryptocurrency incomes and profits “enjoy” special attention. Different decisions on the matter pose … Read more
Having recently had to report over 13,000 of its clients to the US Internal Revenue Service (IRS), making it easier to handle tax reporting is a must for Coinbase. The company has launched a tax calculator, but it will not be of much use for many of its clients including those who transacted with GDAX, … Read more
The Thai Deputy Prime Minister has mandated that the law on cryptocurrencies and initial coin offerings be finalized within a month. The regulators have met and agreed that there is no need to invoke the country’s controversial Section 44 law but to introduce a “special law” for them instead. Also read: Japan’s DMM Bitcoin Exchange Opens … Read more
Cryptocurrency investments have attracted the attention of tax authorities in Belgium. Several investigations have been opened into cases of Belgian citizens who have traded on foreign exchanges. Anyone speculating on crypto markets is expected to pay 33% tax on their gains, despite the fact that bitcoin and the like are not regulated or legalized in … Read more
With Australia set to introduce new legislation that will empower authorities to monitor and regulate the activities of cryptocurrency traders, many analysts are anticipating that the country’s bitcoin investors will face a crackdown from the the country’s tax office. Also Read:Australian High School to Host Information Night on Cryptocurrencies Australia to Expand Regulatory Domain Over … Read more
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 … Read more
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 … Read more
