Italian parliament approves 26% gains tax on digital assets
Italy has found a way to cope with existing crises plaguing the country—by enacting a 26% capital gain on digital asset traders, a move that garnered 109-79 votes from lawmakers.
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Australia’s Treasury excludes digital currencies from foreign currency taxation, seeks public opinion
Taking notes on the mess that hit El Salvador in 2021, Australia decided against taxing digital assets as foreign currency while working on providing clarity on the definition of virtual currencies.
South Korea to tax capital gains on crypto transactions
The South Korean government intends to impose capital gains on crypto transactions by the first half of 2020, collecting data from crypto exchanges.
20% fixed tax bracket in the cards for Japan’s crypto investors
Finance Minister Taro Aso has discussed the idea of reducing the tax rate paid by cryptocurrency investors in Japan.
France cuts cryptocurrency capital gains tax in half
After a fair amount of backlash, France’s Council of State now considered cryptocurrencies as movable property, which resulted in the lowering the capital gains tax to a flat rate of 19%.
Digital currency is taxable, IRS reminds taxpayers
The U.S. Internal Revenue Service has warned taxpayers about incurring penalties should they fail to report their cryptocurrency-related incomes.