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Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of Tax Rules for Investments
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The Biden administration seeks to terminate the tax-loss harvesting strategy for crypto investors which would help the White House save $31 billion over a ten year period. On Thursday, March 9, the Biden administration proposed some important changes to crypto tax treatment in the federal budget. This could be a
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“The increase in energy consumption attributable to the growth of digital asset mining has negative environmental effects and can have environmental justice implications as well as increase energy prices for those that share an electricity grid with digital asset miners,” according to the document. “Digital asset mining also creates uncertainty
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A phased-in 30% tax on cryptocurrency mining electricity costs has been proposed by United States president Joe Biden in his administration's 2024 fiscal year budget. A Department of the Treasury supplementary budget explainer paper released Mar. 9 said any firm using resources — whether they be owned or rented —
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Crypto tax software provider CoinTracker is integrating its software with H&R Block, a company that helps millions of customers prepare their income taxes across Canada, the United States and Australia. In an announcement seen by Cointelegraph, CoinTracker noted the partnership will allow American H&R Block customers to use CoinTracker and automatically fill
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The proposed Biden budget plan would close the current harvesting loophole on crypto tax losses, reducing wash sales trading. According to reports, US President Joe Biden’s new budget plan could close tax loss harvesting on crypto transactions. A White House official confirmed that the budget, set to be revealed today, will include a tax
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The president's team has already passed one crypto tax-related piece of legislation into law; in 2021, the Bipartisan Infrastructure Framework, which later became the Infrastructure Investment and Jobs Act, included a controversial tax provision that would impose certain reporting rules onto brokers facilitating crypto transactions. The definition of "broker" was
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The Keep Innovation in America Act was first introduced in March 2021. Source
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The government of Thailand is moving to benefit from the digital asset industry growth by allowing tax-free issuance of digital tokens for investment.Thailand's cabinet has agreed to waive corporate income tax and value-added tax (VAT) for companies that issue investment tokens, Reuters reported.Announcing the news on March 7, deputy government
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The waiving of corporation and sales taxes targets companies that issue digital tokens for investment Original Source
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