Category: Tax

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Japanese Crypto Investors Flee Capital Gains Taxation of up to 55%

Reports have indicated that some investors are relocating in search of alternative taxation regimes in order to avoid heavy capital gains taxes. Japan currently taxes capital gains on profits derived through virtual currency trading at between 15% and...

Dubai Issues License to Cryptocurrency Firm

The largest free economic zone in the UAE, with zero percent personal and corporate income tax, has started issuing licenses to firms trading cryptocurrencies. The first license has been issued to a gold trader that has recently started...

India’s Tax Department Issues Notices to 100,000 Crypto Investors

India’s Income Tax Department recently announced that it has issued notices to 100,000 cryptocurrency investors. The announcement came in light of government surveys into the operations of multiple leading Indian exchanges that have revealed widespread tax evasion on...

The IRS Takes Its Tax Evasion Hunt to the Blockchain

As the adage goes, there are two certainties in life: death and taxes. For any U.S. bitcoiners considering wriggling out of the latter, that task just got a little harder. The country’s Internal Revenue Service has revealed that...

Bitcoin Tax Reporting Software Developer Node40 Acquired for $8m

A publicly traded Canadian crypto miner has just made a $8 million bet that all bitcoin users around the world will eventually be compelled to report their transactions to the taxman, and that they will help handling this...

Russia Developing System to Identify Crypto Miners but Considers Giving Them Tax Break

A Russian ministry is preparing a bill for the regulation of cryptocurrency mining which reportedly includes a “special system” to detect crypto miners. In addition, there may be a 2-year tax break for miners as well as energy...

Vietnam Imported More Mining Rigs in 3 Weeks This Month Than All of Last Year

The Ho Chi Minh City Customs Department has revealed that in the first 3 weeks of this month almost 8,000 mining rigs were imported into the city. This number exceeds the entire count of mining rigs imported into...

Tax Loophole Closing For South Korean Cryptocurrency Exchanges

The South Korean government is working on taxing cryptocurrency transactions. While the media reports that up to 24.2 percent taxes will be collected this year from crypto exchanges, the regulators say that the tax rates have not been decided....

UK Bitcoiners Might Have Tax Loophole

With success comes attention, and with notice comes the taxman. Bitcoin’s crazy great jump in price over 2017 has taken the world’s most popular cryptocurrency from a curiosity into a begrudgingly valued asset by governments. Capital gains is...

Tax Loophole Found for UK Crypto Profits

Each country has its own systems for tax evaluation and collection, and some countries are stricter than others. One of the major issues governments have with cryptocurrencies is the difficulty in taxing profits made on trading. The United...