Taxes – Page 25 – DIGIT INFO

Puerto Rican Treasury Department Aims to Tax NFT Sales

The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe the inclusion of NFTs in this reform brings validation to the asset class, but also that the application of this regulation presents […]

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Russian Government Approves Plan to Regulate Cryptocurrency

The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under state oversight, introduce strict obligations for market participants, and ensure investor protection. Russian Authorities Move to Legalize Crypto Economy The Russian government “has determined the […]

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Russian Government Eyes $13 Billion in Taxes From Crypto Economy

Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers as Crypto Taxes, Russian Analysts […]

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Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year

The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders. […]

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No precedent: IRS court settlement doesn’t clarify crypto staking taxes

There is yet to be a conclusive court ruling regarding the taxation of staked crypto rewards; however, a recent case demonstrates industry progression.

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Simple math says Russia could collect up to $13B in crypto tax each year

The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different once regulations are set in place.

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Law Decoded: Tangible wins, new menaces and the global crypto taxation drive, Feb. 1–7

Crypto advocates celebrate wins, the Treasury and SEC seek to introduce crypto-unfriendly rules, and governments rush to levy digital asset taxes.

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Venezuelans reportedly hit by new Bitcoin tax of up to 20%

Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis.

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Crypto Users and Exchanges Must Now Report Transactions in Colombia

The Colombian government has issued new regulations that force exchanges and individuals to report cryptocurrency transactions to the UIAF, the anti-money laundering watchdog in Colombia. The transactions must be reported via an online reporting system, and exchanges will be required to issue periodic reports of suspicious transactions made by users. Colombia Tightens AML Controls New […]

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60,000 Indians Petition Government to Lower Crypto Tax to Avoid ‘Devastating Impact’

Many Indians have signed a petition for the government to introduce reasonable crypto tax policies. This week, India’s finance minister, Nirmala Sitharaman, proposed taxing crypto income at 30%. Indians Sign Petition Urging Government to Rethink Crypto Tax Proposal A petition has been initiated on Change.org for the government of India to “introduce reasonable crypto tax […]

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