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The Japanese tax authority has for the first time revealed the number of high-income taxpayers who declared cryptocurrency profits in the year 2017. Out of the total number of taxpayers with miscellaneous income of 100 million yen or more, excluding public pension, 60% of them reported income from crypto transactions. Also read: Yahoo! Japan Confirms Entrance … Read more
Instant crypto-denominated salaries and blockchain-based social security payments feature in Saturday’s Bitcoin in Brief. Reports about these promising developments in the labor market and the public sector come from Australia. Also, the Slovak tax authority intends to use blockchain technology for more efficient tax collection. Also read: Bitcoin in Brief Friday: Luxury Jets, Cheap … Read more
The Shenzhen municipal tax authority has partnered with Tencent to apply blockchain and AI technology to streamline tax management and fight tax fraud Go to Source Powered by WPeMatico
The Irish revenue service has published a manual with guidelines aimed at eliminating the uncertainty surrounding the taxation of crypto transactions. Investors and traders of digital coins, businesses working with cryptocurrency and tax advisors, of course, can now find answers to many but not all of their questions. The notice has been issued at a … Read more
The government of India is reportedly considering levying a type of consumption tax on cryptocurrency trading and even mining. The most grievous part of this proposal is that it may also be a retroactive measure, demanding payments for past actions. Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context Crypto Sales Tax The … Read more
Bank of Spain governor thinks blockchain is immature but shows promise, and writes crypto off as too volatile and prone to money laundering use Go to Source Powered by WPeMatico
India considers taxing cryptocurrency transactions despite the central bank ban remaining in place Go to Source Powered by WPeMatico
So, you’ve got an option in crypto. How would it be taxed? Go to Source Powered by WPeMatico
Poland’s Finance Ministry scraps its current crypto tax policy, admitting it may make traders pay “an amount often exceeding the funds invested” Go to Source Powered by WPeMatico
Authorities in Poland have realized how inapplicable their decision to tax all crypto transactions really is. A high-ranking official from the Finance Ministry said in an interview that his department “accepts the irrational effect” of the tax it wanted to levy on every purchase and sale of cryptocurrency, regardless of their profitability. Other reports suggest … Read more