Tax – Page 30 – Ƀitsell X

The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal

October 18, 2021

U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are mischaracterizing the proposal. Biden Administration’s…
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President of Mexico Denies Having Interest in Adopting Bitcoin as Legal Tender

October 17, 2021

The President of Mexico, Andres Manuel Lopez Obrador, denied having any interest in adopting cryptocurrencies as legal tender in the country. The statements, offered in a press conference in the National Palace this week, also confirmed that the Mexican government will keep dealing with the financial matters of the country in a traditional and orthodox…
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Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament

October 7, 2021

The Ukrainian president has sent the recently adopted law “On Virtual Assets” back to the Verkhovna Rada, the country’s legislature. The head of state has come up with his own suggestions and opposed the establishment of a new regulatory body that would require additional financing. Setting Up New Crypto Market Regulator Will Be Expensive, Zelensky…
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Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply

October 6, 2021

The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and she insists financial information concerning where income derives from can get “hidden.” Janet Yellen…
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BBA pushes for crypto regulatory clarity in Massachusetts

September 20, 2021

The Boston Blockchain Association has published crypto regulatory advisory guidelines for lawmakers in Massachusetts to consider. The Boston Blockchain Association, or BBA, together with Boston-based media house Media Shower and the Chamber of Digital Commerce are working to lobby for favorable crypto regulations in Massachusetts. According to a release issued on Monday, the BBA in…
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Korean Finance Minister vows to fight moves to delay the crypto tax code

September 17, 2021

The ruling party is planning to attempt a postponement of the crypto tax laws but the Finance Minister is not for turning. South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic…
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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600

September 16, 2021

On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 worth of transactions or…
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Slovenia Prepares to Impose 10% Tax on Spending and Selling Cryptocurrency

August 31, 2021

The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for transactions involving the spending or converting of cryptocurrencies into fiat money. Tax Office Wants to Simplify Crypto Taxation in Slovenia The Financial Administration…
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Seoul government seizes $22M worth of crypto from tax evaders

April 23, 2021

The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. The city government of South Korea’s capital Seoul has announced the seizure of cryptocurrencies worth 25 billion won ($22 million) from individuals and company heads. According to a report by The Korea Times, the confiscated crypto came…
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Kenyan crypto firms on notice as digital tax law takes effect

January 8, 2021

Crypto transactions in Kenya now attract a 1.5% tax. Kenya’s planned Digital Service Tax, or DST, came into effect at the start of 2021. The DST is part of the country’s 2020 revamped Finance Act that focused on the digital services market among other sectors. Based on the provisions of the new tax regime, e-market…
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Tag: Tax