Hungary considers digital currency investor tax cut for COVID stimulus
Authorities in Hungary are weighing proposals which would slash the applicable rate of tax on digital currency gains down from 30.5% to just 15%.
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Turkey begins digital currency transactions over $1200
The measures were announced by the Minister of Treasury and Finance Lütfi Elvan, putting the Financial Crimes Investigation Board, or MASAK, at the heart of enforcement of the rules.
Block reward miners in South Korea getting tax break under new scheme
Companies involved in block reward mining may enjoy a significant tax break when South Korea’s new digital currency tax regime begins in 2022.
Indonesia proposes tax on digital currency transactions
The Indonesian Commodity Futures Trade Regulatory Agency has proposed a final income tax on any transaction involving a digital currency, which will apply to the 13 exchanges authorized by the market regulator.
Ohio lawmaker proposes bill for stricter digital currency tax reporting
Senator Rob Portman said he hoped the bill would attract bipartisan support, as a measure for tackling the problem of undeclared digital currency trading gains.
Seoul seizes $22M from digital asset exchange accounts over back taxes
The Seoul metropolitan government said this week it had found and even seized such assets from over 600 "tax delinquents"—individuals and heads of companies living in the city.
South Korea pledges crackdown on money laundering via digital currencies
The South Korean government is reportedly preparing to ramp up regulation against digital currency, in a bid to more readily identify illegal digital currency transactions.
Spanish tax authorities warn of new digital currency related fines
The Ministerio de Hacienda said digital holdings were considered taxable income by the authorities, and that there were sizable penalties for those who failed to disclose their holdings in full.
UK updates digital currency tax treatment to account for staking
Her Majesty’s Revenue and Customs published the updated guidance to address the issue of proof-of-stake rewards, which had previously been treated informally in the same way as mining rewards.
Block reward miners get tax breaks in Kentucky
Kentucky Governor Andy Beshear has signed a pair of legislative bills that enable block reward miners to take advantage of tax breaks in the energy-rich Commonwealth.
India to require companies to disclose digital currency holdings
Officials at the Ministry of Corporate Affairs processed an amendment to Schedule III of the Companies Act, 2013, requiring companies both public and private to disclose information about their digital currency holdings and dealings in other digital assets.
South Korea authorities to do more to tackle digital currency tax evasion
The National Tax Service has identified some 2,400 suspected tax evaders relying on digital currencies to hide their assets, thought to amount to over KRW36.6 billion.