Tag: tax

  • Crypto

    UK Member of Parliament: MPs Have a Duty to Understand Crypto

    A member of UK parliament and self-confessed cryptocurrency enthusiast has spoken in favour of the fintech innovation. Eddie Hughes, MP, believes embracing the technology could help Britain thrive in the wake of Brexit and that the public should be able to pay their taxes using Bitcoin. Cryptocurrency Could...

    Rick D. | December 10, 2018 | 6:30 pm
  • Thailand
    Blockchain

    Thailand Government to Use Blockchain to Tackle Tax Avoidance

    The government of Thailand has announced plans to adopt distributed ledger technology to fight tax avoidance. Director-general Ekniti Nitithanprapas said the Revenue Department intends to use blockchain to verify whether taxes were paid correctly and to speed up the tax refund process. Thai Government Announces Plan to Use Blockchain...

    Ricardo Esteves | November 6, 2018 | 12:00 am
  • Tax
    Bitcoin

    Japan’s Tax Committee Looks to Simplify Cryptocurrency Gains Reporting

    Japan’s Tax Investigation Committee, an advisory body of the government, is looking to simplify its tax filling system as confusion has led to poor reporting of profits with digital currencies in the country. Japan Lawmakers Discuss Ways to Simplify Tax Returns of Cryptocurrency Gains At a meeting held...

    Ricardo Esteves | October 20, 2018 | 6:00 pm
  • Bitcoin

    Lawmakers Ask IRS For Clarity on Crypto Tax Reports, Better Regulating Industry

    Lawmakers from the United States House of Representatives have issued an open letter to the Internal Revenue Service (IRS), requesting additional clarity on tax laws surrounding crypto such as Bitcoin and Ethereum. The open letter was addressed to acting IRS commissioner, the honorable David Kautter on behalf of...

    Tony Spilotro | September 21, 2018 | 7:00 am
  • Cryptocurrency
    Industry

    Two of Russia’s Largest Banks to Offer Crypto Trading in Six Top Coins

    Two of Russia’s largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp. Crypto Trading Portfolio Alfa Bank is the largest private bank in Russia, while Sberbank is state-owned...

    Thomas Delahunty | June 19, 2018 | 9:30 pm
  • south africa
    Blockchain

    South Africa’s Central Bank Debuts Interbank Settlement System on JPMorgan’s Quorum

    The South African Reserve Bank (SARB) has released its report on Project Khokha, a Proof-of-Concept designed to simulate a real-world trial of a distributed ledger technology (DLT)-based wholesale payment and settlement system. Project Khokha: South Africa’s Blockchain-Based Settlement System The Proof-of-Concept (PoC) is for interbank transfers using Quorum,...

    Thomas Delahunty | June 8, 2018 | 7:30 am
  • Azerbaijan
    Industry

    Azerbaijan’s Central Bank: Profits from Cryptocurrency Trading Must be Taxed

    Azerbaijan, taking another step towards the legitimization and mainstream adoption of cryptocurrencies, has declared that the coins are subject to taxation in the country. Specifically, revenues generated by entities will face ‘profit tax,’ and individuals trading cryptocurrencies will be subject to ‘income tax.’ These clarifications come from Nijat...

    Thomas Delahunty | May 8, 2018 | 1:00 am
  • Tax
    Industry

    French Government Lowers Tax on Cryptocurrencies From 45% to 19%

    The French government has altered the tax rate for gains generated by cryptocurrencies, which will be subject to a flat tax rate of 19%, as opposed to the current rate of as high as 45%. The Council of State decided yesterday, April 26, that the gains generated by cryptocurrencies...

    Thomas Delahunty | April 27, 2018 | 6:48 pm

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