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Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets. The development suggests that Japan will uphold its current definition of cryptocurrency as miscellaneous income, whereby virtual currency is taxed … Read more
Taro Aso might not be willing to support legislation in Japan treating cryptocurrency-related income the same as that for stocks. Go to Source Powered by WPeMatico
South Korea will start taxing profits from bitcoin (BTC) and other cryptocurrencies next year, according to local media reports. The taxation will also apply to bitcoin mining operations and income from initial coin offerings, should it be approved by Parliament. South Korea’s Ministry of Economy and Finance proposed the amendments to the existing tax law … Read more
The government of South Korean is preparing to legislate crypto taxes by proposing a new amendment to the existing law. Go to Source Powered by WPeMatico
There is no denying that you should be paying taxes on your income from crypto, but how can you ensure that you are not paying more taxes than you owe? Go to Source Powered by WPeMatico
The United States Internal Revenue Service is reportedly soliciting outside contractors to assist with calculations of cryptocurrency users’ transactions. Go to Source Powered by WPeMatico
New research has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in Latin America. Go to Source Powered by WPeMatico
The crypto industry’s attitudes toward tax are maturing, with a recent survey indicating that two-thirds of digital asset users are in favor of cryptocurrency taxation. Go to Source Powered by WPeMatico
While most of the U.S. remains on lockdown, a few states across the nation are starting to open up businesses and lift restrictions. Meanwhile, politicians on the left have been trying to push a universal basic income (UBI) package through Congress, in order to give Americans in need a monthly check. This week, former U.S. … Read more
Got crypto losses? The IRS has updated some guidelines and procedures in response to the COVID-19 pandemic Go to Source Powered by WPeMatico
