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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of … Read more
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have … Read more
El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El … Read more
A recently published study appears to advocate for the isolation of crypto assets from other tax deductions, where losses are concerned. Go to Source Powered by WPeMatico
Deloitte highlights its commitment to Web3 and crypto through its intent to hire cryptocurrency experts to join its team, with over 300 positions posted on LinkedIn. Go to Source Powered by WPeMatico
Crypto taxation remains to be a controversial space, though some transparency is expected. Go to Source Powered by WPeMatico
Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices … Read more
According to fiscal authority, the number of potential taxpayers who failed to declare their crypto assets rose by 40% in a year. Go to Source Powered by WPeMatico
Bitmain has reportedly failed to pay personal income taxes in accordance with China’s laws on the administration of tax collection. Go to Source Powered by WPeMatico
A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes. Go to Source Powered by WPeMatico
