UK Won’t Excuse Ignorance in the Hunt for Unpaid Crypto Taxes, Experts Say
The government could use a number of different ways to track down crypto tax evaders, CryptoX was told. Source
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Taxes
UK Gov Wants Crypto Users to Disclose and Pay Taxes to Avoid Penalties
Users who have already made crypto tax disclosures to the U.K. Treasury have 30 days from the disclosure date to make all necessary payments. If the deadline is not met, the Treasury will take steps to recover the money, and users may face penalties, the post said. Source
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Laos military says country’s crypto operators owe $20M in unpaid taxes
In an effort to boost state revenues, Laos appears to be turning its attention to the country's crypto sector.According to a Nov. 9 report by China's state news agency Xinhua News, citing a report from Laos People's Army News, cryptocurrency operators in the Southeast Asian country owes $20 million in
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Swiss city Lugano to accept BTC for taxes, grant $50m to crypto startups
A panel at the PlanB conference in Lugano on Oct. 20 focused on efforts to drive Bitcoin (BTC) adoption in the city. The panel included Mayor of Lugano Michele Foletti, CEO of Tetragon Pavel Matveev and other leaders involved in PlanB — an initiative launched in September 2021 to make Lugano
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Microsoft to Appeal IRS’s $29B Back Taxes Claim
If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court. The United States Internal Revenue Service (IRS) has informed Microsoft Corp (NASDAQ: MSFT) that it owes back taxes of $28.9 billion “plus penalties and interest”
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CoinDCX to Cut 12% of Jobs as Crypto Bear Market, India Taxes Take Their Toll
" ... startups and businesses globally are going through challenging times due to tough macro conditions, more so in crypto because of the prolonged bear market and impact of TDS (tax deducted at source) on domestic exchanges," the company said. "These factors had a significant impact on our volumes and
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CoinSmart president says crypto taxes are a ‘little bit more favorable’ outside US
Jeremy Koven, the president of Canada-based crypto exchange CoinSmart and SmartPay president at WonderFi, pointed to areas of concern for crypto firms in the United States looking for regulatory clarity and favorable tax policy. Speaking to Cointelegraph at the Blockchain Futurist conference in Toronto on Aug. 16, Koven said promoting crypto
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Brazil’s Congress moves to levy higher taxes on cryptocurrencies
Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as "financial assets" for tax purposes in foreign investments.In addition, the draft bill taxes gains from fluctuations in
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Ripple executive discusses taxes, Dogecoin, Pomerdoge gain on weekly charts
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ripple executives and XRP holders are discussing tax implications for using the coin in cross-currency payments. Meanwhile, Dogecoin (DOGE) and Pomerdoge (POMD) posted gains on the weekly charts. On the other hand, analysts continue to debate
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IRS Says Staking Rewards Are Subject to U.S. Taxes in Year the Investor Gets Control
“The fair market value of the validation rewards received is included in the taxpayer's gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards,” according to the legal analysis, which says that value should be figured as of the moment the U.S.
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