Tencent has been tasked by the Shenzhen government to set up an “Intelligent Tax” innovation laboratory to tackle its tax fraud problems.
An 18% tax is being examined on all cryptocurrency trading by India's Central Board of Indirect Taxes and Customs, according to reports.
British Virgin Islands-based Bitfinex has told a select group of customers they must submit details of their tax affairs, which will be retained and ultimately shared with tax authorities around the world.
Azerbaijan has joined numerous jurisdictions to announce measures taxing revenues from cryptocurrency-related operations.
The Israel Tax Authority is reportedly actively seeking out those traders who are engaging in cryptocurrency business, in a bid to demand a fair share of their profits.
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%.
As if the situation was not bad enough for cryptocurrency owners, further pressure on prices looms in the form of the April 15 tax deadline in the United States.
Regulators in South Korea could be ready to publish cryptocurrency tax guidelines as early as June, according to reports.
The U.S. Internal Revenue Service has warned taxpayers about incurring penalties should they fail to report their cryptocurrency-related incomes.
Coinbase has also provided a step-by-step guide to calculate cryptocurrency-related taxes with the tool, simplifying the often cumbersome and laborious procedure.
A bill allowing residents to pay their taxes in cryptocurrencies has just passed its first reading required in Arizona.