Search Results for "tax reforms"
The UK's HMRC Begin Tax Talks for Cryptocurrency
November 2019 has seen newly published guidelines come into place, with Her Majesty’s Revenue and Customs (HMRC) collecting advice and consulting with third parties to create new principles on different taxes in the United Kingdom.
US Congress Reveals most Countries Fail to Tax Staked Crypto, Will This be Resolved as Ethereum Launches Staking?
Taxation for cryptocurrencies differ from one country to another and most have yet to provide clear guidelines on how to tax staked crypto.
South Korean Tax Specialists Advocate for Lowered Crypto Taxation
Members of the Korean Tax Policy Association are calling on the government to consider applying a low-level tax on crypto transactions. The South Korean administration is contemplating taxing cryptocurrencies as part of its tax reform plan for 2021, but specialists feel it requires in-depth conceptualization.
G20 Leaders Demand Digital Tax By End of 2020, US Minister Maintains Current Proposal is Discriminatory
The Group of 20 met in Riyadh last weekend with senior officials expressing alarm at the delay in plans to implement new digital taxes on American technology companies. The New York Times reported on Feb 22, that after two years of economic fallout from a trade war, leaders of the G20 feel that if a deal is not made in the coming months, European countries will begin collecting levies on the US tech giants, which could lead to US retaliation.
Spain To Draft New Bill That Will Enforce Full Crypto Holding Disclosure From Citizens
Spain is drafting a bill that will make it mandatory for crypto asset holders to disclose the value of their assets for tax purposes.
UK's Tax Authority Ready to Invest Up to $130,000 in Blockchain Analytics Tool to Track Crypto Cybercriminals
The UK tax authority HM Revenue and Customs (HMRC), is looking for an analytics tool using blockchain to enhance the process of identifying criminals who are trading in cryptocurrencies online.
Japanese Crypto Trading Activity Fell as COVID-19 Pandemic Hit in March
The Japan Virtual and Crypto assets Exchange Association has reported that during the COVID-19 pandemic there has been a decline in active crypto-trading in Japan.
IRS Updates 1040 Income Tax Form, Lays Traps for Crypto Tax Cheats
The IRS plans to update the 1040 income tax form for 2020 to make it more difficult for taxpayers to avoid declaring their crypto assets.
Bitwala Incorporates CryptoTax for Better Tax Reporting
Bitwala, a German-licensed Bitcoin banking service application, announced its new integration remedy with CryptoTax, an entity that assists crypto users to adhere to yearly tax declaration deadlines. This will be instrumental in solving crypto tax headaches.
US Tax Office Warns Coinbase Users To Declare Crypto Holdings Before IRS Clampdown
The IRS may soon start clamping down on crypto users particularly those affiliated with Coinbase exchange who do not properly report their crypto holdings.
Crypto.com Partners with Leading Tax Providers to Simplify Reporting Process
Crypto.com, a pioneering payment and cryptocurrency platform, has partnered with three reputable tax providers namely, Token Tax, CryptoTrader Tax, and CoinTracker for simplified tax reporting with the click of a button. This decision was arrived at following requests by the Crypto.com community to be tax compliant.
Bitcoin Cash (BCH) Hard Forks into Two New Blockchains Following Disagreement on Miner Tax
Bitcoin Cash (BCH), a hard fork from Bitcoin, has once again split and created two new blockchains after a disagreement between two BCH clients.