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Venezuela has always been an interesting country when it comes to Bitcoin and other cryptocurrencies. Despite this form of money being very popular, it also irates the local government. A new proposal has appeared in local newspapers which claims crypto transactions will be taxed. It remains unclear how the government plans to enforce such actions … Read more
Venezuelan government sets monthly limit on crypto remittances within the country, introduces fees of up to 15 percent Go to Source Powered by WPeMatico
Choosing the best country to set up a business is vital in this digital age, and especially so for crypto companies. As governments around the world continue to learn more about cryptocurrencies and elect to either crack down on them or allow them to flourish, some jurisdictions emerge as being better than others for launching … Read more
In this edition of The Daily, tax filing software Turbo Tax has integrated a feature that allows crypto investors to report their capital gains online. Also, Venezuelans have set a new record in P2P trade on Localbitcoins and Brazilians can now pay for movie tickets with digital coins. Also read: Twitter CEO Talks Bitcoin, Bitstamp … Read more
TurboTax Online, a U.S. tax preparation software, adds crypto tax calculation to its services Go to Source Powered by WPeMatico
During the first week of the new year, two U.S. representatives from New Hampshire, Dennis Acton and Michael Yakubovich, proposed a bill that would allow the state’s residents to pay taxes with cryptocurrencies. Now after some deliberation, New Hampshire’s House Subcommittee unanimously approved the state’s bitcoin for taxes bill. Also read: US State of Ohio Accepts … Read more
Cryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and … Read more
Using its excess energy generating capacity to mine cryptocurrencies, Russia can increase its budget receipts by more than $1 billion dollars in annual tax revenue. The estimate comes from a report that also calls for the establishment of a Russian crypto valley. Also read: Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies … Read more
Filing taxes can be tricky and in jurisdictions like the United States is notoriously complicated. But when cryptocurrencies are added to the equation things start to get even harder. Many aspects of the reporting of crypto income and profits are not yet clearly defined. However, a number of tax filing and calculation tools are trying … Read more
U.S.-based crypto exchange Coinbase has added new resources for users on how to claim crypto transactions on their yearly taxes Go to Source Powered by WPeMatico
