South Korea digital currency tax on track for 2022
Qualifying transactions will be subject to a tax rate of 20%, according to the Ministry of Economy and Finance, which drew up an amendment following a change in the rules in 2020.
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Kenya Finance Act takes effect, charging 1.5% tax on digital currencies
The law charges a digital services tax on all digital marketplaces and services, as the government seeks to raise $46 million from the sector.
Craig Wright demystifies Bitcoin and tax
In his recent blog post, Dr. Craig Wright delves into how Bitcoin’s immutable ledger allows for authorities to link transactions with individuals.
IRS to crack down on digital currency tax evaders in 2021: former chief
In a recent op-ed, former head of the IRS Criminal Investigation Division Dan Fort warned the tax agency will shift from education to enforcement in 2021.
IRS clarifies digital currency tax form instructions
The IRS has released revised draft instructions that clarify the virtual currency question that they added to the 1040 tax form.
India proposes 18% tax on digital currency trading
The central government believes that the industry could provide up to $1 billion worth of taxes once the taxes are imposed, according to reports.
Israeli tax agency sending letters to digital currency owners
The Tax Authority has been reportedly sending inquiries to local and global exchanges, pressuring them to divulge information about Israeli digital currency owners.
Digital currency evolves in the eyes of IRS
The days of digital currency being used in unmarked trades that result in profit or loss are over–and that’s not a bad thing, Patrick Thompson writes.
Putin signs order requiring Russia officials to report digital currency holdings
Public officials in Russia must include digital currencies owned by their spouses and children, and must report by June 30, 2021.
India wants to tax digital currency earnings: report
The government’s tax agency is reportedly monitoring the industry, seeking to impose as much as 30% tax on digital currency earnings.
South Korea approves digital currency tax delay
The South Korean Strategy and Finance Committee has approved an amendment that delays South Korea's digital currency tax plan until January 2022.
OECD to introduce digital currency tax standards in 2021
The Organization for Economic Cooperation and Development is reportedly eyeing an international digital currency standards by 2021.