Italy approves 26% capital gains tax on cryptocurrencies
The Italian Senate approved the new tax rate for crypto trading as part of the budget legislation for 2023. Go to Source Powered by WPeMatico
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Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law
The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a 3.5% aliquot for undeclared cryptocurrencies held before Dec. 31, 2021, and a 0.5% fine for each … Read more
SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26
A bail was granted to SBF on the conditions of a $250 million bond, home detention, location monitoring and the surrender of his passport. Go to Source Powered by WPeMatico
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto Brokers Told to Comply With … Read more
The outcome of SBF’s prosecution could determine how the IRS treats your FTX losses
Will your losses to FTX be classified as capital losses or as a “theft loss” that involved a Ponzi scheme? Either way, you’ll probably win. Go to Source Powered by WPeMatico
Brussels Wants All Crypto Service Providers to Report Transactions of Europeans
The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU to Consider New Reporting Requirements for Crypto Platforms … Read more
Argentina Signs Automatic Tax Data Sharing Agreement With the United States
The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc Stanley, will allow the Argentine national tax authority to receive information from accounts and … Read more
How can UK-based businesses accept Bitcoin?
Through Bitcoin payment processors like BitPay, businesses in the UK can offer BTC as a payment method during checkout. Go to Source Powered by WPeMatico
Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa, which already levy taxes on digital asset transactions. Extracting More Revenue … Read more
Italy Wants to Tax Crypto Gains at 26% From 2023
The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige Italians to declare their digital assets and pay 14% on their holdings. Government in Italy Intends to Tap Into Cryptocurrency … Read more
