The future of crypto taxes: Understanding the ever-changing landscape
Crypto taxation remains to be a controversial space, though some transparency is expected. Go to Source Powered by WPeMatico
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China Fines Bitmain $3.6 Million for Tax Violations, Report
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
Spanish tax agency to send over 328K notices to crypto holders
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
Bitcoin mining firm Bitmain reportedly fined for tax violations in China
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
New R&D tax rules could mean a US exodus for crypto companies
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
Ethereum projects unite to protect users from MEV-induced high prices
In total, 27 Ethereum projects joined the initiative as launch partners, which includes Balancer, Gnosis DAO, Shapeshift, and StakeDAO, to name a few. Go to Source Powered by WPeMatico
Bitcoin Profits Deemed Taxable by Denmark’s Supreme Court
Profits from the sale of cryptocurrencies like bitcoin are taxable, according to two rulings by the Supreme Court of Denmark. The verdicts in the cases, which involve crypto purchases and payments as well as income received from bitcoin mining, uphold decisions of lower courts. Denmark’s High Court Considers Crypto Gains Taxable Under Current Law Profits … Read more
Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025
Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such as mining and trading. Belarus to Maintain Its Crypto-Friendly Tax Regime for Another 2 … Read more
El Salvador removes all taxes related to tech innovation for economic growth
Technology innovations such as software programming, coding, apps and AI development, and computing and communications hardware manufacturing will be exempted from taxes in El Salvador. Go to Source Powered by WPeMatico
Bitcoin profits are taxable in certain cases, says Denmark’s supreme court
The country’s supreme court released two decisions for cases in which different crypto users gained profits from sales of BTC “made for the purpose of speculation” and mining. Go to Source Powered by WPeMatico