Cryptocurrency Analysis and News Portal
The issue of crypto taxation has attracted a monumental crowd of opinions lately in the U.S. While the government believes turning to virtual currency as a means of payment could pose a threat to the economy in terms of taxation, regulators are working hard to ensure this emerging class of
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In a press release issued on October 2, 2019, Ohio Treasurer Robert Sprague announced the suspension of the OhioCrypto.com website which allowed businesses to file their taxes with bitcoin (BTC.) A Short-Lived Affair Ohio’s love affair with the premier cryptocurrency didn’t last particularly long as on October 2, 2019, the state’s Treasurer,
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The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners.According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs. The provision follows an
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The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT).According to the announcement, cryptocurrency payments that are subject to the provision of services under Article 9 (27) (d) of Portuguese tax law are exempt from VAT.
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Some in the crypto community have embraced Puerto Rico, which seems to have done a good job of promoting itself. But is it for you? I can only address the tax issues, not anything else. To a large extent, the tax issues depend on what kind of income you will
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The Canada Revenue Agency (CRA), the country’s tax authority, is auditing the corporate tax returns filed by QuadrigaCX, the now-defunct Canadian cryptocurrency exchange. CRA’s request for documents and information is significantAccording to an article by the Globe and Mail on Sept. 16, QuadrigaCX is now being audited by the CRA
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France’s economy minister Bruno Le Maire declared that France will exempt tax on crypto-to-crypto trade but will impose tax when cryptocurrency is converted to traditional money. Le Maire stated that when the capital gain of cryptocurrency is converted into traditional fiat currency, it is the ideal time to implement taxation.The
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French economy minister Bruno Le Maire said on Sept. 12 that French authorities won’t tax crypto-to-crypto trades, but will tax when cryptocurrencies are sold for fiat currency.Bloomberg Tax reported on Le Maire’s declarations on Sept. 12. Per the report he noted:“We believe that the moment the gains are converted
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A Californian politician has become the first elected official to use cryptocurrency to purchase cannabis in the United States.A press release shared with CryptoX on Sept. 11 revealed that Berkely City Councilmember Ben Bartlett used Bitcoin Cash (BCH) and the stablecoin Universal Dollar (UPUSD) to make the purchase at
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Cryptocurrency miners in Iran will be eligible for a tax exemption if they agree to repatriate their overseas earnings, according to Iran's National Tax Administration (INTA).Per a report by local English-lanuage news daily Financial Tribune, INTA introduced a repatriation tax exemption similar to the one it offers non-oil exporters.INTA
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