Tax – Page 29 – Ƀitsell X

‘We are the number two crypto miner in the world, and we see practically no financial return,’ says Kazakhstan President Tokayev

November 20, 2021

In addition to calling for greater regulation in the cryptocurrency industry, President Tokayez contemplated the introduction of a digital Kazakhstani tenge. During a meeting with representatives of the financial sector on Friday in Almaty, Kassym-Jomart Tokayev, President of Kazakhstan, expressed his opinion on the current state of affairs of the country’s cryptocurrency industry. The details…
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IRS Warning: The Taxman Cometh – For ‘Billions of Dollars’ Worth of Crypto

November 19, 2021

America’s central tax body, the Internal Revenue Service (IRS) has stated that it expects crypto worth billions of dollars could be seized again next year. Bloomberg quoted the IRS Criminal Investigation Chief Jim Lee as stating: “I expect a trend of crypto seizures to continue as we move forward into the fiscal year [FY] 2022.…
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Argentina U-Turns On Crypto Tax With New Regulation

November 18, 2021

In an abrupt U-turn on an earlier stance adopted by the country’s authorities, the Argentinian government has released a decree that imposes a tax on credits and debts on transactions involving cryptoassets. The regulation was published on November 17, and the measures entered into force on the same day…. Read More: Argentina U-Turns On Crypto…
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US Infra Act: Cryptoverse Says the Fight Isn’t Over, But Things Could Get ‘Messy’

November 16, 2021

Crypto advocates have vowed to keep fighting the controversial Infrastructure Investment and Jobs Act despite the fact that the United States President Joe Biden signed the act into law on Monday, leaving much-maligned “digital asset broker” status clauses intact…. Read More: US Infra Act: Cryptoverse Says the Fight Isn’t Over, But Things Could Get ‘Messy’…
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Austria Plans to Tax Cryptocurrencies Like Stocks, Vows Equal Treatment

November 12, 2021

As a growing number of governments are looking to tap into crypto profits, authorities in Austria have indicated their intention to tax gains from digital asset investments just like those from stocks and bonds. The move is expected to increase trust and access to cryptocurrencies. Austria to Apply Capital Gains Tax to Bitcoin, Make Crypto…
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Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

November 10, 2021

Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the…
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Slovenia Launches Public Consultations on Crypto Taxation Law

October 28, 2021

Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules for Cryptocurrencies The Finance Ministry in Ljubljana has opened public consultations…
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Puerto Rico sees resurgence of interest among crypto rich

October 27, 2021

Crypto capital is moving to Puerto Rico as tax regulations are much more favorable than in the U.S. proper. The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto…
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‘An Act of War Against the Middle-Class’ — Americans Criticize Janet Yellen’s Idea to Tax ‘Unrealized Capital Gains’

October 25, 2021

The 78th United States secretary of the treasury Janet Yellen told CNN’s “State of the Union” on Sunday that U.S. lawmakers are considering taxing unrealized capital gains. According to Yellen, the funds collected would help finance things related to climate and social change. While Yellen said that U.S. senator Ron Wyden (D., Ore.) was working…
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Aussie Senate committee proposes overhaul of crypto taxes, DAOs and exchange licenses

October 20, 2021

The committee recommended more clarity for DAOs, new capital gains tax provisions, and tax breaks for green miners. The Senate Committee on Australia as a Technology and Financial Center (ATFC) has just tabled its third and final report in Parliament which has 12 far-reaching recommendations for the regulation of the digital asset and fintech industry…
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Tag: Tax