Tax

Canada

Canada Tax Collector Seeks to Force Crypto Exchange Coinsquare to Fork Over Client Records

The demand mimics a play tax enforcers at the IRS deployed against Coinbase.

News  ·  6 November 2020
IRS

Tax Payers Needn’t Disclose Merely Holding Crypto: IRS Draft 2020 Guidance

The U.S. tax agency has clarified who needs to answer "yes" to a question over cryptocurrency activity included in the draft 1040 income tax form.

Policy & regulation  ·  26 October 2020
PayPal

PayPal Cuts Service to Crypto-Funded Domain Registrar Hosting Right-Wing Sites

A report suggests the action may be over the firm's digital currency, Masterbucks.

Business  ·  26 October 2020
Banks

Bitcoin Critic Peter Schiff’s Bank Under Spotlight in Global Tax Probe

A Puerto Rico-based bank founded by long-time bitcoin skeptic Peter Schiff is under investigation over suspicions it facilitated tax evasion.

Policy & regulation  ·  19 October 2020
CoinFlash

Spain Working on Bill to Force Crypto Holders to Disclose Assets, Gains

The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, a government spokesperson said.

Policy & regulation  ·  13 October 2020
CoinFlash

IRS May Make It Harder to Avoid Declaring Crypto on Tax Returns

The Internal Revenue Service plans to make all income tax payers check a box indicating whether they have transacted in crypto over 2020.

Policy & regulation  ·  25 September 2020
CoinFlash

European Crypto Tax Companies Announce Merger to Power US Expansion

The merger means Blockpit and Crypto Tax can look at taking their newly combined regtech offering to the lucrative U.S. market.

Business  ·  8 September 2020
CoinFlash

Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year

Citizens and companies in Zug will be able to pay up to $109,000 of their tax bill in either bitcoin or ether starting next February.

Policy & regulation  ·  3 September 2020
CoinFlash

Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo

The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.

Policy & regulation  ·  31 August 2020
CoinFlash

Bitwage Rolls Out Tax Calculator Tool as IRS Ramps Up Crypto Pressure

The new tool comes as the IRS is sending more letters to crypto investors.

Business  ·  26 August 2020
CoinFlash

Australian Crypto Exchanges Partner With Koinly to Simplify Tax Reporting for Users

With tax reports for crypto transactions being complex and time-consuming to prepare, Koinly said its service automates the process in just minutes.

Policy & regulation  ·  29 July 2020
CoinFlash

South Korean Government Proposes Tough New 22% Tax on Crypto Trading

Crypto trading profits could be liable to a 22% tax should the Korean National Assembly approve the newly tabled proposal.

News  ·  22 July 2020
Australia

Australian Tax Office to Warn Investors Over Crypto Misreporting

Up to 350,000 Australians will be contacted by regulators soon to remind them of their obligations when trading in digital assets like bitcoin.

Policy & regulation  ·  12 March 2020
Ukraine

Ukrainian Taxpayers Will Now Have to Report Crypto Holdings

Ukraine’s revenue agency has published guidance that says cryptocurrency holdings should be treated as intangible property on tax returns.

Policy & regulation  ·  4 March 2020
Cryptocurrency

New Zealand Plans to Drop ‘Unfavorable’ Sales Tax Treatment of Cryptocurrencies

New Zealand's Inland Revenue Department is considering how best to change its tax regimen so cryptocurrencies aren't at a disadvantage.

Policy & regulation  ·  25 February 2020