カテゴリー: Tax

Poland Backpedals on “Irrational” Crypto Tax After Strong Backlash

Poland Backpedals on “Irrational” Crypto Tax After Strong BacklashAuthorities in Poland have realized how inapplicable their decision to tax all crypto transactions really is. A high-ranking official from the Finance Ministry said in an interview that his department “accepts the irrational effect” of the tax it wanted to levy on every purchase and sale of cryptocurrency, regardless of their profitability. Other reports suggest […]

The post Poland Backpedals on “Irrational” Crypto Tax After Strong Backlash appeared first on Bitcoin News.

Bitfinex Starts Sharing Customer Tax Data with Authorities

Bitfinex, an exchange famed for its opaque banking arrangements, has begun ordering its users to submit their tax details. The platform, which is registered in the British Virgin Islands, a known tax haven, will retain this information and may share it with tax authorities in their customers’ jurisdiction. The news has caused quite a stir. […]

The post Bitfinex Starts Sharing Customer Tax Data with Authorities appeared first on Bitcoin News.

Thailand Waives 7% VAT for Individual Cryptocurrency Investors

Thailand Waives 7% VAT for Individual Cryptocurrency InvestorsThailand’s Revenue Department has announced that it will waive the 7% value-added tax for individual cryptocurrency investors. The country began regulating digital currencies and initial coin offerings on Monday, putting the Thai Securities and Exchange Commission (SEC) in charge of the regulations. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space VAT Exemption The decree […]

The post Thailand Waives 7% VAT for Individual Cryptocurrency Investors appeared first on Bitcoin News.

Thailand Commences Cryptocurrency Regulations Today

Thailand Commences Cryptocurrency Regulations TodayThe decree to regulate cryptocurrencies and initial coin offerings in Thailand goes into effect on Monday. The government has also revised the country’s tax code to add crypto taxation. Sellers of digital tokens will face a fine or even jail time if they fail to register with the regulator within 90 days. Also read: Yahoo! Japan […]

The post Thailand Commences Cryptocurrency Regulations Today appeared first on Bitcoin News.

Azerbaijan to Tax Crypto Incomes and Profits

Azerbaijan to Tax Crypto Incomes and ProfitsGains from cryptocurrency transactions will be taxed in Azerbaijan, according to a high-ranking official from the Tax Ministry. Authorities in the energy-rich nation intend to tap into both corporate profits and personal incomes. The country has previously taken a conservative stance on cryptocurrencies but the focus on taxation now signals a change in Baku.  Also […]

The post Azerbaijan to Tax Crypto Incomes and Profits appeared first on Bitcoin News.

Vive la France! Bitcoin Tax Slashed by Republic

Vive la France! Bitcoin Tax Slashed by RepublicAccording to Le Monde, France’s State Council of taxation has announced a severe lowering of financial penalties on gains from cryptocurrencies such as bitcoin. The agency is signaling crypto tax will plummet from its current 45% to an across the board flat 19%. It’s a dramatic change in orientation from the government. Could it be […]

The post Vive la France! Bitcoin Tax Slashed by Republic appeared first on Bitcoin News.

Coincheck Recorded Profit Despite the Hack While Victims Hit with Taxes

Coincheck Recorded Profit Despite the Hack While Victims Hit With TaxesJapanese exchange Coincheck is still profitable after suffering one of the biggest hacks in cryptocurrency history. The exchange recorded an estimated writedown of 47.3 billion yen (~US$432.56 million) for the funds used to compensate customers. Victims, however, were slapped with tax bills. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space A Writedown for Coincheck […]

The post Coincheck Recorded Profit Despite the Hack While Victims Hit with Taxes appeared first on Bitcoin News.

Quebec Chief Scientist Rejects “Myth” of Widespread Illicit Bitcoin Use

Quebec Chief Scientist Rejects "Myth" of Widespread Illicit Bitcoin UseThe Chief Scientist of Quebec, Rémi Quirion, has published a document rejecting the popular “myth” that illicit transactions are among those for which bitcoin is principally used. Quebec’s Chief Scientist is closely associated with the Fonds de recherche du Québec (FRQ) – a publicly funded institution dedicated to “providing support for the production and dissemination […]

The post Quebec Chief Scientist Rejects “Myth” of Widespread Illicit Bitcoin Use appeared first on Bitcoin News.

Russian Government Concerned Crypto Bill Inadequate in Many Ways

Russian Government Concerned Cryptocurrency Bill Inadequate in Many WaysThe Russian government has officially provided a response to the bill that seeks to outline the legal framework for cryptocurrencies. Many flaws and inadequacies were pointed out including unjustified restrictions on Russian residents and foreign investors. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Response to Crypto Bill The Russian […]

The post Russian Government Concerned Crypto Bill Inadequate in Many Ways appeared first on Bitcoin News.