Taxation

Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies

August 3, 2022 Bitcoin.com

bitcoin.com

South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

July 30, 2022 Bitcoin.com

Ban

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Latvian Artist Threatened With Prison for Money Laundering Through NFTs

July 26, 2022 Bitcoin.com

Artist

An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

July 13, 2022 Bitcoin.com

$POWER

President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Tax Agency Starts Checking Crypto Traders in Romania

July 3, 2022 Bitcoin.com

bitcoin.com

Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. Tax Authority in Romania Verifies […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Russian Parliament Adopts Tax Rules for Digital Assets

June 29, 2022 Bitcoin.com

Adoption

Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes Law to Tax Crypto Transactions A bill amending the Tax Code of the Russian […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Albania to Start Taxing Crypto-Related Income From 2023

June 25, 2022 Bitcoin.com

albania

Authorities in Albania are finalizing regulations that will allow the taxation of income and profits from cryptocurrency investments. The government intends to begin imposing the levy in 2023, after adopting the necessary legislation which has been proposed for public consultations. Albania Set to Impose Crypto Tax as Early as Next Year The Albanian state should […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600

June 10, 2022 Bitcoin.com

$600

Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through a third-party payment network. US Residents Think […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1

June 1, 2022 Bitcoin.com

$POWER

The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K

Portuguese Parliament Rejects Crypto Tax Proposals During Budget Debate

May 26, 2022 Bitcoin.com

Bids

Two proposals to tax crypto assets have failed to gain support from Portuguese lawmakers who are now discussing the state budget. The bids came from minority left-wing parties, while the ruling majority is yet to put forward its own draft to regulate the matter. Portuguese Lawmakers Stop Motions to Tax Crypto Gains Members of the […]

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Crypto sentiment index drops to October levels as Bitcoin dips under $92K