Cryptocurrency Analysis and News Portal
Before now, some countries have mapped out some crypto taxes for transactions on cryptocurrency assets within their jurisdiction. Thailand is one of the countries that proposes some taxation plans. As the new year begins, the revenue department of Thailand is setting up its measures for implementing its tax plans on crypto
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Daniil Egorov, head of Russia’s Federal Tax Service, mentioned cryptocurrencies as a potential means for tax evasion, in an interview with the Russian news agency RBC.Asked if he noticed any “innovative” tax evasion schemes recently, Egorov mentioned crypto. ”We are watching this market closely and understand that this payment system
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As a year of massive blockchain industry growth and cryptocurrency adoption breakthroughs approaches its final month, many in this space remain reluctant to join in on the celebration — and for good reason. Many of cryptocurrency’s leading developers, investors, and pundits have spent the past three years lamenting that the plight
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Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules for Cryptocurrencies The Finance Ministry in Ljubljana
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Musk has tweeted in support of the crypto community before a vital taxation vote procedure and has urged lawmakers to not consider technology “winners or losers” in the domain of crypto.The US Congress is in the process of preparing a new crypto taxation bill that is said to regulate digital
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A recent survey conducted by South Korean wallet provider Childly found that 66% of respondents are in favor of crypto assets being taxed.The poll of more than 5,750 crypto users worldwide revealed that only one-in-five crypto users are opposed to digital asset taxation.Crypto community warms to taxation48% of respondents strongly
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For crypto owners looking to estimate how much they owe in taxes, there are some platforms with a free crypto tax calculator.
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2019 was, without a doubt, a milestone for crypto taxation. Countries around the world realized cryptocurrencies are here to stay and adjusted their crypto tax policies as a result. This year alone, several countries have been busy establishing and amending crypto tax legislation. Governments around the world have published
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According to an official from the United States Internal Revenue Service (IRS), ‘like-kind’ tax exemption has not been applied for taxpayers with crypto transaction records.This holds true for transactions even before 2018. After changes were introduced to the 2017 taxation structure, taxpayers were prohibited from utilizing the tax exemption scheme
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On Aug. 28, the Ministry of Economy of Kyrgyzstan has submitted the draft law “On Amending the Tax Code” with the aim of introducing cryptocurrency mining taxation.New tax proposalAccording to news outlet Kabar, the draft law was specifically developed to allow for the possible taxation of crypto mining.The taxation
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