Tag: Taxes

A New Bitcoin World

10 Tax Tools to Help Crypto Owners

10 Tax Tools to Help Crypto OwnersWhile tax laws on cryptocurrency vary by jurisdiction, there are many useful tools to help you calculate crypto taxes, lower your tax liabilities, and simplify your filing — no matter where you are. Many of them work globally, supporting tax forms of multiple countries, and can import data directly from all major crypto exchanges. Also […]

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September 18, 2019 0

Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin

Why Portugal’s Tax-Free Crypto Trading Matters for BitcoinCryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature of decentralized digital assets. Not to mention how absurd […]

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September 3, 2019 0

More Cities and Regions Accepting Coins for Taxes, Services

More Cities and Regions Accepting Coins for Taxes, ServicesCryptocurrency payments, as convenient as they can be, are still something most governments are trying to wrap their heads around and regulate. Local authorities, however, being closer to the citizens they are called upon to serve, are often quicker to adopt novelties that make their lives and the lives of ordinary people much easier. More […]

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August 6, 2019 0

10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS

10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRSOn July 26, the U.S. Internal Revenue Service (IRS) announced that the tax agency has started sending letters to American cryptocurrency owners advising them to pay their taxes. According to the organization, three types of letters will be sent to more than 10,000 taxpayers by the end of August. The news follows the recent IRS […]

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July 27, 2019 0

Cryptocurrency Is Providing a Lucrative New Revenue Stream for Governments

Cryptocurrency: New Lucrative Income Source for GovernmentsCryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and […]

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January 29, 2019 0

What UK Bitcoin Investors Should Know as Tax Deadline Approaches

The deadline for submitting tax returns in the UK is Jan. 31, 2019. If you hold investments in bitcoin or any other cryptocurrency it is important to be aware you may owe corporation tax, income tax, or capital gains tax depending on your activities. The U.K.’s HM Revenue and Customs (HMRC) has shared its most recent […]

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January 16, 2019 0

Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies

Venezuela Decrees Crypto Operators to Pay Taxes in CryptocurrenciesThe Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies. The decree states that the change is necessary for the “strengthening of the current fiscal regime.” Also read: Indian Supreme Court Moves Crypto Hearing, […]

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January 9, 2019 0

Bitcoin ATMs Most Common Scam Payment Method in Australia

The Australian Taxation Office (ATO) has warned taxpayers to be “on high alert” for phone scammers demanding payment through bitcoin ATMs. It said payments via BTC cash machines have now overtaken iTunes vouchers as the most common method of scam payment reported to the tax authority. Also Read: IMF: Central Banks Could Issue Digital Currency Tax […]

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November 15, 2018 0

Brazil’s Tax Authority Goes After Cryptocurrency Profits

Brazil's Tax Authority Goes After Cryptocurrency ProfitsBrazil’s tax authority has published proposals to regulate the cryptocurrency landscape over concerns digital assets are being used to launder money and evade tax. A document released by the Department of Federal Revenue of Brasil (RFB) disclosed plans that will force cryptocurrency traders to reveal their identities and for exchanges to submit financial reports to […]

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November 3, 2018 0

World’s Biggest Banks Helped Clients Steal $63 Billion in Taxes in Europe

World's Biggest Banks Help Clients Steal $63 Billion in Taxes in EuropeEurope’s top banks allegedly helped wealthy clients across the continent steal 55 billion euros ($63 billion) from multiple governments by making tax reclaims to which they were not entitled, an investigation has revealed. The theft centred around a complex scheme of trading stocks that also involved hedge funds and large international commercial law firms. Also […]

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October 21, 2018 0