Crypto tax

India considers proposal to tax Bitcoin transactions at 18%

Click Here For AMBCrypto’s Survey – A chance to win Trezor One  The Indian Government has moved towards potentially implementing a tax of 18% on Bitcoin trading in the country. According to reports, the central government is currently weighing a proposal to impose a Goods and Services (GST) tax on Bitcoin, which is estimated to...
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Is Bitcoin under threat, as new privacy laws loom large

Bitcoin and the overall crypto-market welcomed 2020 with increased regulatory clarity which has in turn helped its overall adoption narrative. However, with the ongoing presidential election taking place, many in the crypto space have speculated as to what the effects of a new government and new regulations might imply for the likes of Bitcoin and...
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South Korea’s blockchain lobby calls for suspension of crypto-tax plans

As per the Special Reporting Act, income tax laws will be applicable to cryptocurrency ownership in South Korea, as of October 2021. However, the provisions of the Act have come under a lot of fire recently. The latest to fire a salvo is the Korean Blockchain Association (KBA) after it voiced its vocal opposition to...
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$60.2M tax on Bithumb has no legal basis, claims South Korean lawmaker

South Korean crypto-exchange Bithumb was in the news this year after it was levied a tax of 80.3 billion won ($60.2 million) by the country’s National Tax Service (NTS). Bithumb, for its part, was quick to resist, with the exchange arguing that this charge was baseless on the grounds that the country did not even...
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New Zealand’s IRD requests customer details to ‘better understand’ crypto-assets

The Inland Revenue Department of New Zealand has re-ignited its interest in crypto-assets and its investors after it asked companies dealing with them to hand over customer details. The guidelines in question present a set of requirements which include the customer’s personal details, as well as info on the type of crypto-assets they are holding....
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Blockpit acquires competitor to form largest crypto tax compliance firm in EU

Austrian-based Bitcoin tax software developer Blockpit, announced acquisition of its German competitor CryptoTax, a tax compliance website, today. Both companies were founded in 2017, to provide legally compliant tax reports and taxable profits from trading with cryptocurrencies and the firms saw this merger as a midterm plan to internationalize company standards and expand into the US...
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Are crypto-tax regulations ready for Ethereum’s staking rewards?

Over the past decade, the crypto-market has diversified significantly and today, the average crypto-user has a wide variety of options in terms of coins and derivatives products to choose from. However, this growth hasn’t translated well when it comes to addressing issues pertaining to regulatory and tax compliance. Tax laws and the IRS’s guidelines for...
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Why Canada’s Crypto Industry is Threatened by Tax Rules?

Canadian tax authorities’ approach to crypto-assets might discourage the country’s citizens from using digital assets, as things like double taxation remain an issue. While the US still struggles to bring regulatory clarity to the world of cryptocurrencies, its neighbor, Canada, currently faces taxation issues. The country was quick to introduce crypto taxes as early as...
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