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
Category: Taxes
Thailand Exempts Crypto Transfers From VAT Until End of 2023
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
Report: Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’
A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements
Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments
The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The
Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May
The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the
Indian Government Reveals 11 Crypto Exchanges Investigated for Tax Evasion, $13 Million Recovered
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have
Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto
Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider
An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class.
Indian Government Reveals How It Plans to Tax Cryptocurrency Transactions
India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions. A proposed new section to the Income Tax Act
India Targets 700 Crypto Investors for Non-Payment of Taxes: Report
India’s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. “We have a long
