Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets. Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets. Japan Blockchain Association (JBA), a non-governmental lobbying group, filed an official request to the country’s government, highlighting three major…
Read more
A parliamentary vote held by lawmakers in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale. Members of Slovakia’s National Council of the Slovak Republic — the country’s parliament — have voted to approve lower crypto taxes, along with additional measures affecting cryptocurrency holders. On June…
Read more
Technology innovations such as software programming, coding, apps and AI development, and computing and communications hardware manufacturing will be exempted from taxes in El Salvador. El Salvador, the first country to establish Bitcoin (BTC) as a legal tender, has decided to eliminate all taxes on technology innovations. The move runs parallel to establishing the National…
Read more
Reporting cryptocurrency when filing taxes can help investors offset their losses. 2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be…
Read more
Experts opine that the Indian government needs more data and time to decide on rigid tax policies, given it has been only ten months since the tax laws were introduced in March 2022. Cryptocurrency and blockchain technology found no mention in India’s union budget for the year 2023, bringing down the hopes of millions of…
Read more
The public has been provided with 25 days to share their opinion on the proposed legislation. Australia’s ministerial department of Treasury reached out to the public to seek consultation regarding draft legislation that would exclude cryptocurrencies from being taxed as a foreign currency if passed. In a press release, Assistant Treasurer Stephen Jones highlighted the Australian…
Read more
South Korea has postponed its crypto gains tax on multiple occasions due to a lack of investor protection measures and regulatory guidelines. The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift…
Read more
The proposal calls for a separate 20% tax on crypto earnings and exemptions of any tax on crypto gains, with losses carried forward for up to three years. The Japan Crypto-Asset Business Association (JCBA) and the Japan Crypto-Asset Exchange Association (JVCEA), the two prominent crypto advocacy groups in Japan, released a tax reform request that…
Read more
Russia is turning to blockchain technology in an effort to counteract the economic isolation brought on by the sanctions imposed due to its invasion of Ukraine. The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in…
Read more
