tax

Finance
Legal
Public Sector

Crypto Tax in Chile to Starts in 2019

Starting this year, crypto investors in the South American nation of Chile, will have to start declaring and paying tax on their earnings last year, in 2018. Originally, the tax agency of Chile Servicio de Impuestos Internos SII, declared last year that cryptocurrencies were not subject to Value Added Tax (VAT). However, the tax agency […]

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Business
Finance
Legal
Technology

Tax Relief Offered for Blockchain in South Korea

The South Korean government, has added Blockchain to its research and development tax credit scheme, to aid innovation in the area. The tax relief is scheduled to be implemented in February 2019 according to the document published. The tax credit means that for small enterprises 30 – 40% of research and development expenses would be […]

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Finance
Public Sector
Trading

Poland to Lower Crypto Tax rate to 19%

This year tax authorities in Poland will start to treat crypto trades similarly to revenues derived from the equity market, and, with a lower tax rate of 19%. Cryptonews reported that MSZTax, a Polish Tax advisory firm, stated: ..the [applicable] tax rate will be lowered from 32% to 19% for those investors whose revenues will […]

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Business
Public Sector

Overstock.com Becomes First US Company to Pay Taxes via Cryptocurrency

Overstock.com announced yesterday that it would be paying taxes in cryptocurrency, in the state of Ohio. It would pay its Commercial Activity Taxes (CAT) in Bitcoin (BTC) this coming February. [T]houghtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the U.S. […]

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Business
Exchange
Finance
Legal
Trading

HMRC Provides Guidance On Crypto Taxation

Her Majesty’s Revenue and Customs UK (HMRC) have published today a policy paper on the tax treatment of cryptoassets for individuals in the UK. As expected, cryptoassets are viewed to be taxable: trades and other disposals should have capital gains taxed. This includes crypto-to-crypto trades. Key amongst the guidance is the following statement to clarify […]

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Finance
Legal
Trading

Japan to Tackle Crypto Tax Evasion

The Japanese government will be looking to establish a system to prevent tax evasion from those who have made big profits from cryptocurrency trading. Profits from crypto trading in Japan will be classified as miscellaneous income under the Income Tax Act. The employed who gain 200k yen a year in crypto earnings are required to […]

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Business
Development
Finance
Legal

South Korea to Tax ICOs and Cryptocurrencies

Although Initial Coin Offerings (ICOs) are banned in South Korea, the government is planning to tax cryptocurrencies and initial coin offerings (ICOs). According to The Korea Times, finance minister Hong Nam-ki, announced “A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to […]

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Business
Development
Finance
Legal

France Looking to Ease Capital Gains Tax on Bitcoin

The lower house of parliament in France has backed plans to ease tax gains on Bitcoin (BTC). Announced by Reuters, the finance commission in France has passed an amendment to the 2019 budget bill, that would reduce the capitals gains tax to 30%. Currently, the capital gains tax on Bitcoin (BTC) is at a higher […]

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Business
Finance
Legal
Politics
Public Sector

Spain: New Law Requires Disclosure of all Crypto Holdings

The Spanish Ministry of Finance has announced earlier this morning that Spain has approved a law requiring all citizens to declare any crypto-asset holdings. Part of a draft of an anti-fraud law, it has been approved by the Council of Ministers today. The move is said be an attempt to close legal loopholes wherein citizens […]

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