Thailand Greenlights Income Tax Exemption for Investment Token Earnings: Report
Earnings already subject to the 15% capital gains tax don’t need to be included when calculating income taxes.
Brazil signs its overseas crypto tax bill into law
Under the new taxes, Brazilian citizens will pay the state up to 15% of their crypto profits.
US accounting standards board rules will reflect institutional crypto assets' fair value
The U.S. FASB has decided that crypto assets will be represented at their fair value in accounting beginning late next year.
Kenyan crypto tax bill makes it through parliamentary committee
The Capital Markets (Amendment) Bill will now be introduced to the lower chamber of the Kenyan parliament.
IRS team reports rise in crypto tax investigations
According to the fiscal year 2023 report, the IRS unit investigated failures to disclose crypto holdings and report on capital gains for transactions.
Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4
Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.
UK crypto hodlers get a call from the tax grinch
His Majesty’s Revenue and Customs has issued a warning to crypto, NFT and utility tokenholders about paying their taxes on time or facing the consequences.
Spanish citizens to declare foreign crypto holdings by the end of March
Only individuals with balance sheets exceeding the equivalent of 50,000 euros in crypto assets are obliged to declare their foreign holdings.
Average value of undeclared crypto in Japan dropped 19% in 2022
The number of tax evasion cases featuring crypto assets rose 35% in 2022.
Congress Gets the Runaround From Regulators, Again
The Global Movement to Promote Crypto Tax Transparency — What You Need to Know
In Europe and the U.S., there are a host of initiatives placing new requirements on participants in digital asset markets to report on transactions and meet other new provisions.
What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal
Australia to impose capital gains tax on wrapped cryptocurrency tokens
Delivering a major hit to Australian crypto investors, the ATO stated that wrapping or unwrapping tokens — irrespective of their price at the time — will be subject to capital gains tax.
First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded
Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval.
Crypto Tax Proposal Open for Revision, IRS Officials’ Questions Suggest
While crypto representatives and lawyers cautioned the U.S. Internal Revenue Service (IRS) that its crypto tax proposal is a dangerous and improper overreach, questions posed by a panel of IRS and Department of the Treasury officials at a Monday hearing may reveal some flexibility in the rule as it’s still being written.
Crypto advocacy group pushes back against proposed IRS rules on brokers
The Blockchain Association claimed the U.S. Treasury overstepped its authority in proposing crypto tax rules difficult or impossible to follow by many in the space.
What Are the Tax Implications of the Alleged Binance Wallet Hack (or Any Crypto Exploit)?
47 countries pledge to authorize the crypto-asset reporting framework by 2027
The Crypto-Asset Reporting Framework is the new international standard for the automatic exchange of information between tax authorities.
How to manage crypto losses on tax returns in the US, UK and Canada
Unlock the complexities of cryptocurrency taxation and learn how crypto losses impact your tax liability in the United States, United Kingdom and Canada.