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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
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
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
We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked. Go to Source Powered by WPeMatico
Those wishing to offer feedback to the IRS on having NFTs treated as collectibles such as coins or works of art have until June 19 to submit comments. Go to Source Powered by WPeMatico
The Argentine tax authority (AFIP) is increasing its scrutiny when it comes to digital wallets. The institution recently revealed it found irregularities in at least 184 tax statements that include digital wallets and cryptocurrencies. These taxpayers did not include their wallet holdings as part of their 2021 tax statements, leaving close to $7.6 million in … Read more
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in … Read more
The recent national budget, published by His Majesty’s Treasury, announces the amendment of the self-assessment forms for crypto assets. Go to Source Powered by WPeMatico
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s … Read more
Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of Tax Rules for Investments in Digital Assets Thailand-based companies … Read more
