Cryptocurrency Analysis and News Portal
Cryptocurrency trading is taking another pattern and shape in India due to the implementation of taxation laws. As a result, the traders are experiencing a different turn in their transactions lately in the country. The new rule in India for 1% taxation on every transaction has been enforced from July
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The U.K. government is seeking views from investors, professionals and companies on taxation of decentralized finance (DeFi) activities. Original Source
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The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns.
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This treatment is intuitive with respect to created property. We paint pictures, grow crops, mine raw materials, process raw materials into useful commodities, write essays and engage in countless other creative processes, knowing and expecting that, should our creations actually have some monetary value, they are not taxed unless and
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A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market for digital assets. Russian Deputies to Review Law on Crypto-Related
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After dropping under $40,000 on two occasions during Asian and U.S. trading hours, bitcoin was changing hands again above $41,000, up about 4%.. Ether, the second-largest crypto by market cap, was trading at nearly $2,800, a roughly 6% gain. Most other major altcoins had gained ground over the past 24
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Notably, these numbers are averages of estimates, and as the authors of the Vanguard study point out, there could be great variability in outcomes from one client to the next, and even one year to the next (e.g., the report shows a high end of 185 bps for investment tax
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If we instead consider staking rewards to be payment for services, we will look at §61(a)(1), which says that compensation for services is included in gross income. Generally speaking, compensation for services is paid in cash (i.e. a paycheck). However, staking rewards are paid in crypto. No matter, §83(a) tells
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Every global event or major political crisis these days can trigger a digital asset-related conversation. As China welcomes the world’s top athletes to the Beijing 2022 Winter Olympics, showing off ultra-high-tech facilities and sports infrastructure, some United States politicians have raised concerns over the Games’ potential to act as a booster
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Thailand’s Committee on Monetary Affairs, Finance, Financial Institutions and Financial Market conducted a virtual meeting to discuss various aspects of crypto taxation.The ruling party MP Watanya Wongopasi posted a summary of the discussion on her Facebook page and urged the Excise department to do their due diligence before imposing any
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