Bookmarking Crypto Insights
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If passed, the plan would raise the capital gains tax rate for “certain high income individuals” to 28.8%, while eliminating the “wash sale” loophole for crypto users. Go to Source Powered by WPeMatico
El Salvador is looking to attract foreign investment by adopting major tax breaks on Bitcoin trading. Go to Source Powered by WPeMatico
Russia is moving to regulate cryptocurrency mining after legitimizing the broader crypto industry in January. Go to Source Powered by WPeMatico
Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According to one report, the IRS may get access to bank inflows and outflows via Joe Biden’s American Families Plan. On top of this, another story explains … Read more
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in tax returns. Distinction Between Income and Capital Gains Tax As shown on SARS’ crypto-asset tax … Read more
What the United States needs is tens of billions of dollars, and the state is going to take it from the American crypto community. Go to Source Powered by WPeMatico
The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for transactions involving the spending or converting of cryptocurrencies into fiat money. Tax Office Wants to Simplify Crypto Taxation in Slovenia The Financial Administration … Read more
The United Arab Emirates has been cementing its presence in the digital asset industry recently with multiple efforts to further adopt blockchain-based technologies. Go to Source Powered by WPeMatico
“We want members of Congress to know that we’ll be watching them and that we won’t let them hide from their positions on this,” said Evan Greer. Go to Source Powered by WPeMatico
According to Zachary Kelman, Republicans and moderate Democrats may know the tax reporting requirements for crypto firms are impossible, but want to have a provision to fund some of the projects without raising taxes. Go to Source Powered by WPeMatico
