IRS to transition from ‘education to enforcement’, says former division chief
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear Go to Source Powered by WPeMatico
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India Considers 18% GST on Bitcoin Transactions
The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has … Read more
Crypto taxes, reporting and tax audits in 2021
Just remember, the IRS is quite interested in crypto and is taking steps to unearth those who do not report. Go to Source Powered by WPeMatico
Israeli Tax Authorities Notify Cryptocurrency Owners to Disclose Their Holdings for Taxation Purposes
The revenue collector, the Israel Tax Authority (ITA) has reportedly sent notifications to dozens of Israelis who own digital currencies asking them to fully disclose their assets and be taxed accordingly. In addition to sending letters to local citizens, the tax body has also sent inquiries to cryptocurrency exchanges operating in Israel and those based … Read more
Gifting crypto to loved ones this holiday? Educate them first
Cryptocurrency may seem like the perfect holiday gift this year, but education is key when deciding how to gift digital assets. Go to Source Powered by WPeMatico
Tax justice for crypto users: The immediate and compelling need for an amnesty program
A crypto tax amnesty program could be the fairest way for achieving tax compliance and collection on crypto transactions. Go to Source Powered by WPeMatico
IRS tax form question leaves US crypto users confused and concerned
This year’s Form 1040 requires all U.S. taxpayers to answer a question about whether they traded or acquired “virtual currency” during the year. Go to Source Powered by WPeMatico
Thai tax collectors to streamline revenues with blockchain tech in 2021
Blockchain will reportedly make tax evasion more difficult in Thailand. Go to Source Powered by WPeMatico
South Korea to delay new tax regime on cryptocurrencies until 2022
The postponement follows a successful lobbying campaign by local crypto advocates. Go to Source Powered by WPeMatico
Exchanges outdo auctions for governments cashing in criminal crypto, says exec
Governments are increasingly liquidating crypto assets seized in criminal investigations. Go to Source Powered by WPeMatico