Staking gains shouldn’t be taxed until they’re sold
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
Taxes
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IRS calls for public feedback on taxing NFTs as collectibles
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
Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements
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
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
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
Crypto assets to become a separate category in UK tax forms
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
UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents
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
Report: Thai Govt to Grant Tax Waivers to Issuers of Digital Asset Investment Tokens
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
CoinTracker integrates with H&R Block to offer crypto tax preparation
The new integration allows crypto users to automatically fill out the crypto portion of Form 8949, which is used to report capital gains and losses from investments for tax filings. Go to Source Powered by WPeMatico
Thailand to offer tax breaks for investment token issuers
The government of Thailand expects that investment token offerings could generate more than $3.7 billion in the next two years. Go to Source Powered by WPeMatico
NFT Creators Investigated in Israel for Alleged Tax Evasion
Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority … Read more