tax Archives

Japan plans to reduce tax burden for digital asset issuers

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21 December, 2022

Japan plans to reduce tax burden for digital asset issuers

Currently, Japan imposes a 30% tax on digital asset service providers holding unrealized gains from their assets—a move widely criticized...

Koinly lays off 14% of workforce following extended bear market—Here’s the whole bushel

Business

Wahid Pessarlay

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9 December, 2022

Koinly lays off 14% of workforce following extended bear market—Here’s the whole bushel

Koinly has pruned its staff strength by 14% ahead of the incoming tax season, forcing to layoff 16 full-time employees...

Digital assets may get legal status in Ukraine via new regulatory framework

Business

Wahid Pessarlay

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8 December, 2022

Digital assets may get legal status in Ukraine via new regulatory framework

Taxation of digital assets was a key area of discussion among attendees, with the consensus being an amendment of the...

Italy to introduce 26% capital gains tax on digital asset profits

Business

Jordan Atkins

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5 December, 2022

Italy to introduce 26% capital gains tax on digital asset profits

Taxpayers can be subject to a lesser 14% rate if they declare the value of their digital assets as of...

Israel’s chief economist recommends sweeping digital asset guidelines

Business

Wahid Pessarlay

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2 December, 2022

Israel’s chief economist recommends sweeping digital asset guidelines

Shira Greenberg called for wider powers to be given to the supervisor of financial service providers and opined to create...

European Union eyeing digital asset taxation change

Business

James Field

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1 December, 2022

European Union eyeing digital asset taxation change

The vote will commit lawmakers in Brussels to changing tax rules related to the digital asset industry, including whether to...

Kenya to tax 4 million digital asset owners under new bill

Business

Steve Kaaru

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26 November, 2022

Kenya to tax 4 million digital asset owners under new bill

The Capital Markets (Amendment) Bill will be the first law to govern the digital asset industry and will impose taxes...

Philippines: Kroptoken, Calcoins founder charged with tax evasion

Business

Wahid Pessarlay

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11 November, 2022

Philippines: Kroptoken, Calcoins founder charged with tax evasion

Joseph Calata and his business entities have accumulated a total aggregate liability of over $6.8 million with the matter instituted...

IRS braces for spike in digital asset tax fraud in coming weeks

Business

Wahid Pessarlay

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8 November, 2022

IRS braces for spike in digital asset tax fraud in coming weeks

Jim Lee, head of the IRS criminal investigation department, noted that the cases are in their “hundreds,” with the bulk...

Costa Rica wants ‘crypto’ taxes removed as it eyes transformation into digital asset hub

Business

Wahid Pessarlay

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1 November, 2022

Costa Rica wants ‘crypto’ taxes removed as it eyes transformation into digital asset hub

Costa Rican lawmakers said the proposed bill, which seeks to eradicate taxes in the asset class, will allow digital asset...

IRS expands digital assets tax category to include NFTs

Business

Steve Kaaru

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31 October, 2022

IRS expands digital assets tax category to include NFTs

The IRS has amended “virtual currency” to “digital assets” in the 2022 tax year draft instructions, expanding the category to...

Australia’s stance on BTC may have dire tax implications for investors: report

Business

Wahid Pessarlay

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29 October, 2022

Australia’s stance on BTC may have dire tax implications for investors: report

Digital currency investors in Australia will be mandated to pay capital gain tax from their asset sales after the government...

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