An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and discourage taxpayers from holding and using cryptocurrencies. Japan Government Asked to Amend Tax Laws for Crypto Gains…
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Over 70% of Spanish crypto traders declared losses in the financial year 2022, a new report has found. Per the media outlet Europa Press, the claims were made by TaxCripto, an accountancy firm that specializes in preparing tax returns for crypto holders. The declared losses were significantly higher in the case of those investing in…
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The Russian tax body says that citizens “can pay” taxes on their crypto earnings, despite the fact that tokens have no legal status in the country. In another sign that the government appears to be sending mixed messages about its stance on crypto, the Federal Tax Service (FTS) stated that crypto earners could pay taxes…
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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: Today in Crypto: BNB Chain Was the Most Targeted Chain in Q2 with 36 Incidents, Crypto Scammers Posing as Canadian Police Officers, Bill to Exempt Foreigners in Israel from Crypto Taxes…
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Cryptocurrency exchange Kraken has been ordered by a judge to submit a vast amount of user information to the Internal Revenue Service (IRS) for an investigation into potential tax evasion. The United States District Court for the Northern District of California issued the order on Friday, stating that Kraken must provide account and transaction details to the IRS to determine whether…
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Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax on Income From Crypto Held More Than a Year Members of the…
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Japanese token issuers have been exempted from corporate taxes on unrealized cryptocurrency gains. In a recent announcement, the country’s National Tax Agency revealed that it has revised its law to exempt crypto token issuers from 30% corporate taxes on unrealized gains, effective from June 20. The move comes as Japan seeks to boost its blockchain and crypto sectors amid a push…
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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: Today in Crypto: Prosecutors Impose Travel Ban on Haru Execs, US Retailers Hit with Bomb Threats & Bitcoin Demands, Gemini Allows Withdrawals for Voyager Users Read more »Sign up for e-EUR…
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The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the digital asset sector in the country. Japan Tax Authority Gives Cryptocurrency Businesses a Tax Exemption Japan’s…
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