UAE Eliminates Value-Added Tax From Crypto Transactions in New Regulation Amendment

October 8, 2024 The Daily Hodl

crypto

Cryptocurrency transactions in the United Arab Emirates (UAE) will be exempt from value-added tax (VAT) starting next month, according to accounting giant PricewaterhouseCoopers (PwC). The accounting giant says the UAE’s Federal Tax Authority (FTA) published amendments earlier this month exempting crypto transfers from VAT charges. “Additional services are exempt from VAT: The management of investment […]

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UAE Introduces Retroactive VAT Exemptions for Crypto Transactions

October 7, 2024 Bitcoin.com

Bitcoin

The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially as some provisions retroactively affect transactions since 2018. UAE’s VAT Amendments Introduce Retroactive Tax […]

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Thailand Exempts Crypto Transfers From VAT Until End of 2023

May 25, 2022 Bitcoin.com

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Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and […]

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Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining

February 9, 2022 Bitcoin.com

$POWER

Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More […]

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Political Parties in Thailand Voice Opposition to Government Plan to Tax Crypto Gains

January 13, 2022 Bitcoin.com

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As Thailand prepares to impose a levy on crypto profits, parties on both sides of the aisle have expressed concerns over the government’s current proposal. A number of political figures have insisted that important aspects need to be clarified in order to avoid double taxation of income related to cryptocurrencies. Thai Politicians Warn About Negative […]

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Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders

April 13, 2021 Bitcoin.com

Bitcoin (BTC)

Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines Could Be ‘Over $5,900’ if a Crypto Holder Fails […]

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