What is capital gains tax? capital gains tax news, capital gains tax meaning, capital gains tax definition - Blockchain.News
Search results for

capital gains tax

Trump’s Proposed Capital Gains Tax Cuts Could Benefit Ethereum 2.0 Stakers

Trump’s Proposed Capital Gains Tax Cuts Could Benefit Ethereum 2.0 Stakers

President Donald Trump has proposed a capital gains tax cut which may greatly benefit United States cryptocurrency traders—particularly those planning to stake on Ethereum 2.0.

South Korea Proposes 20% Capital Gains Tax on Cryptocurrency Commodities

South Korea Proposes 20% Capital Gains Tax on Cryptocurrency Commodities

South Korea’s parliament has put forward a bill that could see crypto profits taxed by up to 20% as members argue that cryptocurrencies are commodities.

Biden's Budget Proposal Includes Crackdown on Crypto Wash Sales and Doubling of Capital Gains Tax for Certain Investors

Biden's Budget Proposal Includes Crackdown on Crypto Wash Sales and Doubling of Capital Gains Tax for Certain Investors

U.S. President Joe Biden's fiscal 2024 budget plan proposes a crackdown on crypto wash sales and a doubling of the capital gains tax for certain investors, which could raise $24 billion. The proposed changes to crypto tax treatment aim to reduce the deficit by nearly $3 trillion over the next decade. The budget proposal seeks to eliminate the tax-loss harvesting strategy used by crypto traders, which allows them to sell assets at a loss for tax purposes before immediately repurchasing them. The proposal also aims to raise the capital gains tax rate for investors making at least $1 million to 39.6%.

Australian Taxation Office Clarifies CGT on DeFi and Crypto Wrapping

Australian Taxation Office Clarifies CGT on DeFi and Crypto Wrapping

The Australian Taxation Office has issued guidelines on the capital gains tax implications for decentralized finance activities and crypto token wrapping, following a recent security breach.

UK Considers New DeFi Tax Regime

UK Considers New DeFi Tax Regime

The UK's taxation arm of the Treasury, HM Revenue and Customs, has launched a consultation seeking input from individuals and entities engaged in DeFi activities on a possible new tax regime. Under the proposed changes, crypto used in DeFi transactions would not be treated as a disposal for tax purposes, but a Capital Gains Tax would be triggered when cryptocurrencies are disposed of in a non-DeFi transaction.

South Korea to Delay 20% Capital Gains Tax on Digital Asset Investments until Jan 2025

South Korea to Delay 20% Capital Gains Tax on Digital Asset Investments until Jan 2025

Before levying income taxes on virtual assets, South Korean lawmakers have called for the government to prepare for effective implementation of new rules.

EY Launches Crypto Tax Reporting App to Assist Businesses with US Tax Filings

EY Launches Crypto Tax Reporting App to Assist Businesses with US Tax Filings

Ernst & Young (EY) is launching a crypto Software as a Service (SaaS) to offer step-by-step guidance that assists with US cryptocurrency tax filings.

IRS Updates 1040 Income Tax Form, Lays Traps for Crypto Tax Cheats

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.

South Korea Contemplates Imposing 20% Tax on Cryptocurrency Proceeds

South Korea Contemplates Imposing 20% Tax on Cryptocurrency Proceeds

The South Korean administration might consider categorizing proceeds from cryptocurrency transactions as other income that is subjected to 20% tax, such as prize-winning or lottery.

South Korea Plans to Postpone Cryptocurrency Tax Rule to January 2022

South Korea Plans to Postpone Cryptocurrency Tax Rule to January 2022

South Korea is planning to delay the implementation of its crypto income tax rules to January 2022, extending it from its previous time frame of October 2021.

South Korean Investors Making more than $2,260 from Crypto to be Slapped with a 20% Tax in 2022

South Korean Investors Making more than $2,260 from Crypto to be Slapped with a 20% Tax in 2022

The South Korean Ministry of Economy and Finance has announced that investors making at least 2.5 million won, or approximately US$2,260 from crypto trading, will be subjected to a 20% tax from 2022.

Bitwala Incorporates CryptoTax for Better Tax Reporting

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 Congress Reveals most Countries Fail to Tax Staked Crypto, Will This be Resolved as Ethereum Launches Staking?

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.

IRS Cracking Down on Cryptocurrency Tax Evasion, Seeks Private Crypto Tax Contractors

IRS Cracking Down on Cryptocurrency Tax Evasion, Seeks Private Crypto Tax Contractors

The Internal Revenue Service (IRS) has requested help from independent consultants to crack down on non-compliance in cryptocurrency tax.

Kraken Reminds Ripple XRP Holders of Looming Spark Token Airdrop as New Tax Development Unfolds

Kraken Reminds Ripple XRP Holders of Looming Spark Token Airdrop as New Tax Development Unfolds

With the upcoming Spark token airdrop by Flare Networks, many Ripple XRP holders have scrambled to deposit their XRP in participating cryptocurrency exchanges.

Open Interest in Bitcoin Futures Extends Gains, Nearing All-time High Reaching Over $5 Billion

Open Interest in Bitcoin Futures Extends Gains, Nearing All-time High Reaching Over $5 Billion

According to data published by Bybt cryptocurrency futures and information platform, the current Open Interest in Bitcoin futures contracts has hit $5.35 billion.

Trending topics