The famous Bitcoin family who is living only off of their crypto is moving to Portugal, which welcomes them with a 0% tax on cryptoassets. The Bitcoin Family has risen to international prominence after the Dutch family of five sold everything they owned in 2017, including their house, in order to invest in bitcoin…
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Certain crypto and foreign currency transactions in Venezuela will be taxed at up to 20% after the government and parliament signed off on a rule aimed at reducing inflationary pressure on the troubled fiat bolivar…. Read More: Some Crypto Transactions Could Be Hit with 20% Tax in Venezuela as New Law Passes Read more…
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Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital currencies is yet to be regulated in Russia, authorities lean towards recognizing it as an economic activity, which will allow the government to tax mining…
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The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, called the “large financial transactions” tax would collect up to 20% over transactions made in currencies different from the national fiat currency or the Petro.
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news._____… Read More: Manchester United & Tezos, US Job Growth, Marathon Mined 816% More Bitcoin + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
Legal confusion has broken out in the United States after media outlets reported on a legal case whereby the Internal Revenue Service (IRS), the United States tax body, is allegedly set to refund a couple’s tezos (XTZ) crypto staking tax bill. But one prominent lawyer says the reporting around the case – which some…
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Crypto regulation in India is still an ongoing debate, the country’s Finance Secretary T. V. Somanathan stressed, noting that, for now, cryptoassets are not illegal and are treated as gambling. “The government’s approach is to consult widely and also to look at what’s happening internationally,” he told Bloomberg TV, adding that while cryptossets are…
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The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities, or reported them erroneously. This action seeks to thwart cryptocurrency-related tax…
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In another turn of events involving India’s crypto policy, the country’s Finance Minister Nirmala Sitharaman has proposed to tax gains from crypto transfers at a 30% rate, with no deductions to be allowed. Moreover, the country’s central bank digital currency (CBDC), the digital rupee, is to be rolled out by the Reserve Bank of…
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The article is written by Jaideep Singh, CEO of AI-powered, SaaS platform FlyFin, Luke Olson, CPA, and Sridevi Yathirajyam, EA, FlyFin. __________… Read More: How to Shield Your Crypto Gains and Avoid Getting Audited for Your Crypto Trades in US Read more »Pay, Trade, Buy Bitcoin with Credit Card
