Taxation News

Hello IRS? France Wants to Tax Only Crypto-to-Fiat Trades
Hello IRS? France Wants to Tax Only Crypto-to-Fiat Trades
12 September 2019, 21:44
France will only tax gains on cryptocurrency trades when a trader decides to convert the earnings to fiat currency or use it to fund a purchase.
Australia Tax Office Warns Against 90% Crypto Retirement Accounts
Australia Tax Office Warns Against 90% Crypto Retirement Accounts
16 August 2019, 14:19
The Australian Tax Office sent letters to warn 18,000 Self Managed Super Funds (SMSFs) in the country against investing more than 90% of their assets in cryptocurrencies.
New Zealand Legalizes Use of Crypto for Salaries
New Zealand Legalizes Use of Crypto for Salaries
12 August 2019, 16:01
In New Zealand, it is now legal to pay employee salary using cryptocurrencies according to a new ruling by the Inland Revenue Department (IRD)
U.S IRS Warns Crypto Holders to Pay Up Taxes
U.S IRS Warns Crypto Holders to Pay Up Taxes
26 July 2019, 22:03
The United States Internal Revenue Service (IRS) sent letters to crypto holders requiring that these people pay any taxes they owe or file amended tax returns related to their crypto investments.
Tom Emmer Reintroduces Tax Bill on Hardforked Cryptos
Tom Emmer Reintroduces Tax Bill on Hardforked Cryptos
10 July 2019, 17:28
U.S Congressman, Tom Emmer has reintroduced the “Safe Harbor for Taxpayers with Forked Assets,” bill following what he described as inaction from the U.S Internal Revenue Service (IRS).
Singapore Plans to Stop GST Tax on Crypto Transactions
Singapore Plans to Stop GST Tax on Crypto Transactions
08 July 2019, 07:00
The Inland Revenue Authority of Singapore (IRAS) plans to introduce new tax laws to govern cryptocurrency transactions.
60 Cases of Crypto Tax Avoidance Under Investigation
60 Cases of Crypto Tax Avoidance Under Investigation
07 June 2019, 15:00
The J5, a group of tax regulators from Australia, the United States, the U.K., the Netherlands, and Canada reported progress in the war against people using cryptocurrency to evade taxes.
California — Public Accountants Wants Clarity on Crypto Holding Calc
California — Public Accountants Wants Clarity on Crypto Holding Calc
05 June 2019, 21:42

The growing public interest in the use of cryptocurrencies creates a need for public accountants to handle calculations regarding clients' digital assets.

Is Bitcoin a Currency or an Asset? Israeli Court Rules Against Noam Copel
Is Bitcoin a Currency or an Asset? Israeli Court Rules Against Noam Copel
22 May 2019, 21:21
Noam Copel’s lawsuit against the ITA hinged on whether Bitcoin is a cryptocurrency or an asset with the warring parties taking up one side of the argument respectively.
U.S IRS Will ‘Soon’ Release Guidance on Crypto Taxes
U.S IRS Will ‘Soon’ Release Guidance on Crypto Taxes
21 May 2019, 07:34
The United States Internal Revenue Service (IRS) is working on tax guidance for cryptocurrency traders and investors according to one of the agency’s Commissioner Charles P. Rettig.
U.S Reps Wants Guidance on Crypto Taxes As Deadline Looms
U.S Reps Wants Guidance on Crypto Taxes As Deadline Looms
12 April 2019, 15:16

A delegation of 21 U.S lawmakers led by Rep. Tom Emmer has asked the country’s Internal Revenue Service (IRS) to provide further guidance about how cryptocurrency holders should report their taxes.

Innisfil, Canada Trials Bitcoin for Property Tax Payments
Innisfil, Canada Trials Bitcoin for Property Tax Payments
29 March 2019, 16:58
Would you pay your property taxes more promptly if you could use Bitcoin as a payment method? Innisfil Town, Canada now accepts Bitcoin for property tax payments.
Canada’s Tax Agency Assessing Crypto Investors
Canada’s Tax Agency Assessing Crypto Investors
07 March 2019, 12:29
A special tax audit unit set up by the CRA in 2017 sent a lengthy questionnaire to individuals who have high-risk tax files related to cryptocurrency investments.
Ernst & Young’s New Tool Simplifies Crypto Tax Filing
Ernst & Young’s New Tool Simplifies Crypto Tax Filing
05 March 2019, 13:41
Ernst and Young just made their crypto debut by launching a tax accounting tool for both institutional and individual traders and investors.
NH Legislators Want Bitcoin For State Payments by 2020
NH Legislators Want Bitcoin For State Payments by 2020
24 January 2019, 10:59
New Hampshire legislators have introduced a bill that will allow state agencies to accept Bitcoin for taxes and fees by 2020
South Korea Implements Crypto Tax Break
14 January 2019, 08:42
South Korea's amended tax law stipulates that any company innovating with specific technologies such as blockchain will be entitled to some tax deductions. The deductions will be from the company's research and development (R&D) expense and will vary in value depending on the size of the business.
Venezuela Wants To Tax Crypto
10 January 2019, 21:05
Venezuela has joined the list of nations collecting taxes for cryptocurrency and foreign operations according to a new directive. Individuals and businesses who carry out transactions by using cryptocurrencies or foreign fiat are required to report their income and pay taxes in the same currency that they used for the operation.
French Parliament Rejects Proposal To Make Crypto Taxes Favourable To Traders
20 December 2018, 08:45
Tthe lower house of the French parliament refused to approve four changes around crypto taxation laws that were proposed for the country’s 2019 finance bill.
Bitcoin For Taxes And Utility Offered By The UK Parliament
Bitcoin For Taxes And Utility Offered By The UK Parliament
10 December 2018, 22:49
Eddie Hughes, a Conservative Member of the U.K Parliament representing Walsall North, has recently suggested the introduction of Bitcoin as a payment option for taxes and utility bills in the region.
Japan To Reduce Crypto Tax Evasion
08 December 2018, 12:19
Japanese National Tax Agency (NTA) targets residents who make significant profits from crypto trading and refuse to pay the relevant taxes with new crypto tax regulations that will be introduced in 2020.
Ohio Accepts Bitcoin For Taxes
Ohio Accepts Bitcoin For Taxes
28 November 2018, 12:53
The tax agency of U.S State Ohio has opened up a portal that allows businesses to pay off any percentage of their taxes using Bitcoin. The gateway is Ohiocrypto.com and people could start using them for paying anything ranging from employee withholding tax to sales tax.
France Will Introduce Regulations to Make ICOs Pay Taxes
France Will Introduce Regulations to Make ICOs Pay Taxes
20 November 2018, 19:17
France is going to introduce taxes for ICOs. French regulators will screen team behind an ICO and ensure that the startup can pay back investors if their project fails
Thailang is going to use blockchain for taxation
06 November 2018, 19:26

According to local news source Bangkok Post, the Thai Revenue Department will employ blockchain technology and machine learning to monitor tax payments.

Brazil regulates crypto taxation
Brazil regulates crypto taxation
01 November 2018, 07:25

The South American nation has joined the rank of countries to have provided a sort of regulation for the cryptocurrency industry.