The Finance Minister Nirmala Sitharaman on Tuesday proposed to tax gains from the transfer of virtual assets at a flat rate of 30% in her Budget speech.
#India #Crypto #Tax #Regulations
#India #Crypto #Tax #Regulations
#Thailand Relaxes Tax Rules for #Crypto Investors, Scrapping 15% Withholding #Tax.
Can We Expect #Indian Govt to Remove the Tax in the Future?
Can We Expect #Indian Govt to Remove the Tax in the Future?
Anonymous Poll
50%
YES
50%
NO
Overwhelming to get started on your #crypto taxes?
Now paying #taxes becomes even easier with crypto tax #tools that automatically calculate your crypto taxes (as per your country/region tax rules) and give you final #tax reports (IRS Forms) to be filled at the end of FY.
Here are the Top 8 Crypto Tax Tools
Now paying #taxes becomes even easier with crypto tax #tools that automatically calculate your crypto taxes (as per your country/region tax rules) and give you final #tax reports (IRS Forms) to be filled at the end of FY.
Here are the Top 8 Crypto Tax Tools
Want to Know how new #tax rules affecting #crypto industry❓🤔❓❓
The US has new #tax rules for digital money. #Crypto brokers must give IRS more user data. #Miners are okay, but some #exchanges face rules. This Big changes could bring $28 billion in 10 years to U.S.Govt. New rules show US cares about #crypto.
https://coinpedia.org/news/us-government-rolls-out-new-crypto-tax-guidelines-lets-miners-breathe-easy/
The US has new #tax rules for digital money. #Crypto brokers must give IRS more user data. #Miners are okay, but some #exchanges face rules. This Big changes could bring $28 billion in 10 years to U.S.Govt. New rules show US cares about #crypto.
https://coinpedia.org/news/us-government-rolls-out-new-crypto-tax-guidelines-lets-miners-breathe-easy/
CoinPedia
US Government Rolls Out New Crypto Tax Guidelines, Lets Miners Breathe Easy
According to a recent report by the Wall Street Journal, the Biden Administration has unveiled its much-anticipated new tax reporting rules for digital
Hong Kong revives investment immigration, sets $3.84M threshold, excludes real estate. Considers #Bitcoin inclusion, expands asset types for #tax breaks. #CryptoNews 🔥👇
https://coinpedia.org/news/hong-kong-enhances-investor-immigration-with-new-wealth-thresholds/
https://coinpedia.org/news/hong-kong-enhances-investor-immigration-with-new-wealth-thresholds/
CoinPedia
Hong Kong Enhances Investor Immigration with New Wealth Thresholds
Hong Kong has announced the reactivation of its investment immigration program, setting a new entry threshold and expanding the scope of eligible
US Congress leaders, including Patrick McHenry and Ritchie Torres, oppose proposed digital asset #tax #regulations, citing innovation risks and market hindrance. #cryptonews #Cryptotax 🔥👇👇
https://coinpedia.org/news/u-s-congress-and-finance-committee-lead-bipartisan-effort-for-revision-of-digital-asset-tax-reporting-regulations/
https://coinpedia.org/news/u-s-congress-and-finance-committee-lead-bipartisan-effort-for-revision-of-digital-asset-tax-reporting-regulations/
CoinPedia
U.S. Congress and Finance Committee Lead Bipartisan Effort for Revision of Digital Asset Tax Reporting Regulations
In a landmark move, critical figures in the United States Congress, led by House Financial Services Committee Chairman Patrick McHenry and Congressman
BREAKING: Spanish Citizens Must Declare Overseas #Crypto with New #Tax Form #cryptonewstoday
🔵New Tax Form Requirement: The Spanish Tax Administration has introduced a tax form mandating Spanish citizens to disclose their overseas-held crypto-assets.
🔵Threshold for Declaration: Individuals are required to declare crypto-assets on the form if their balance sheet in overseas cryptocurrency platforms exceeds $55,000.
🔵Specific to Overseas Platforms: The focus of the tax form is on crypto-assets held on cryptocurrency platforms located outside of Spain.
🔵Compliance for Spanish Citizens: Spanish citizens with significant crypto holdings on international platforms need to comply with this new reporting requirement to fulfill their tax obligations.
READ MORE: https://sede.agenciatributaria.gob.es/Sede/procedimientoini/GI55.shtml
🔵New Tax Form Requirement: The Spanish Tax Administration has introduced a tax form mandating Spanish citizens to disclose their overseas-held crypto-assets.
🔵Threshold for Declaration: Individuals are required to declare crypto-assets on the form if their balance sheet in overseas cryptocurrency platforms exceeds $55,000.
🔵Specific to Overseas Platforms: The focus of the tax form is on crypto-assets held on cryptocurrency platforms located outside of Spain.
🔵Compliance for Spanish Citizens: Spanish citizens with significant crypto holdings on international platforms need to comply with this new reporting requirement to fulfill their tax obligations.
READ MORE: https://sede.agenciatributaria.gob.es/Sede/procedimientoini/GI55.shtml
In the #crypto world, identifying favorable #tax environments is crucial. The top twenty low-tax index highlights unexpected international choices, including UAE, Bahamas, Bermuda, Cayman Islands, & Seychelles.
🔵Monaco stands out with no direct taxation but requires residency for the wealthiest investors. Panama, ranked seventh, offers zero capital gains tax on crypto.
🔵 El Salvador, the first to embrace Bitcoin, integrates it into its economy, presenting distinctive investment opportunities. Malta (‘Crypto-Island’), Gibraltar, & Liechtenstein are also good options. Germany surprises with zero tax on crypto gains held for at least twelve months.
🔵Switzerland imposes no direct tax on crypto gains & it is also home to a large number of leading blockchain & crypto-related companies.
🔵Low-tax countries in the top twenty: Romania & Bulgaria (10%), Hungary & Greece (15%) on crypto income. The index considers various factors like investor type, domicile, business nature, and tax guidance.
#Cryptotax
🔵Monaco stands out with no direct taxation but requires residency for the wealthiest investors. Panama, ranked seventh, offers zero capital gains tax on crypto.
🔵 El Salvador, the first to embrace Bitcoin, integrates it into its economy, presenting distinctive investment opportunities. Malta (‘Crypto-Island’), Gibraltar, & Liechtenstein are also good options. Germany surprises with zero tax on crypto gains held for at least twelve months.
🔵Switzerland imposes no direct tax on crypto gains & it is also home to a large number of leading blockchain & crypto-related companies.
🔵Low-tax countries in the top twenty: Romania & Bulgaria (10%), Hungary & Greece (15%) on crypto income. The index considers various factors like investor type, domicile, business nature, and tax guidance.
#Cryptotax
Russia's Ministry of Finance proposes allowing #cryptocurrency miners to export mined assets, aligning with gas export model.
Legislation outlines sales mechanisms, #tax estimates, and aims to bring miners within legal boundaries by 2024.
https://coinpedia.org/news/russias-ministry-of-finance-pioneers-legislation-for-cryptocurrency-exports/
Legislation outlines sales mechanisms, #tax estimates, and aims to bring miners within legal boundaries by 2024.
https://coinpedia.org/news/russias-ministry-of-finance-pioneers-legislation-for-cryptocurrency-exports/
CoinPedia
Russia Unveils Massive Plan to Export Cryptocurrencies Like Natural Gas
In a groundbreaking move, Russia's Ministry of Finance is leading a transformative initiative, drawing intriguing parallels between the cryptocurrency
Seyffart highlights #tax benefits, minimal ( Net Asset Value) NAV-market differential, and strategic capital gains management advantages.
Seyffart contrasts tax inefficiencies in cash transactions, SEC reservations, but industry push for in-kind. #Crypto
https://coinpedia.org/news/navigating-tax-implications-in-bitcoin-etfs-bloomberg-analysts-take-on-in-kind-vs-cash-transactions/
Seyffart contrasts tax inefficiencies in cash transactions, SEC reservations, but industry push for in-kind. #Crypto
https://coinpedia.org/news/navigating-tax-implications-in-bitcoin-etfs-bloomberg-analysts-take-on-in-kind-vs-cash-transactions/
CoinPedia
Bitcoin ETFs Debate: Are In-Kind Transactions Better for Tax Efficiency?
In a recent podcast, Bloomberg analyst James Seyffart decoded the complexities of spot Bitcoin exchange-traded funds (ETFs), unraveling the nuances that
Top #Crypto News in Last Week
1️⃣#BlackRock CEO Larry Fink said #EthereumETF possible despite SEC potentially labeling #Ethereum as security.
2️⃣London Stock Exchange accepted #Bitcoin and #Ethereum #ETN listings from April 8, 2024, approved by FCA. Trading began May 28, 2024.
3️⃣ #SEC requested $2 billion fine on #Ripple Labs. Ripple denies accusations, calls SEC's statements false.
4️⃣ #SBF sentenced to 25 years in prison, ordered to forfeit over $11 billion by judge.
5️⃣ US Attorney’s Office sued #KuCoin founders for unlicensed money transmission, Bank Secrecy Act violations, and #AML failures.
6️⃣ #Binance executive Tigran Gambaryan sued Nigerian government for violating his human rights, amid #tax evasion charges.
7️⃣ Court ruled against #Coinbase in SEC case, citing unregistered securities offering, impacting digital asset trading.
#CryptoNews #Crypto
1️⃣#BlackRock CEO Larry Fink said #EthereumETF possible despite SEC potentially labeling #Ethereum as security.
2️⃣London Stock Exchange accepted #Bitcoin and #Ethereum #ETN listings from April 8, 2024, approved by FCA. Trading began May 28, 2024.
3️⃣ #SEC requested $2 billion fine on #Ripple Labs. Ripple denies accusations, calls SEC's statements false.
4️⃣ #SBF sentenced to 25 years in prison, ordered to forfeit over $11 billion by judge.
5️⃣ US Attorney’s Office sued #KuCoin founders for unlicensed money transmission, Bank Secrecy Act violations, and #AML failures.
6️⃣ #Binance executive Tigran Gambaryan sued Nigerian government for violating his human rights, amid #tax evasion charges.
7️⃣ Court ruled against #Coinbase in SEC case, citing unregistered securities offering, impacting digital asset trading.
#CryptoNews #Crypto
#Denmark Sets 42% #Tax on Unrealized Gains!
First Country to Tax Unrealized #Crypto Gains!
Click below to Read More👇👇 #Cryptotax
https://coinpedian.substack.com/p/denmarks-crypto-tax-a-new-era-for
First Country to Tax Unrealized #Crypto Gains!
Click below to Read More👇👇 #Cryptotax
https://coinpedian.substack.com/p/denmarks-crypto-tax-a-new-era-for
Substack
Denmark's Crypto Tax : A New Era for Crypto!
The World’s First Crypto Gains Tax