Brazil targets $4B in taxes from digital assets stored overseas
A new bill signed into law by President Luiz Inácio Lula da Silva will require income from assets held by Brazilians overseas, be it ‘crypto’ or traditional assets, to be taxed.
Latest tax News
Kenyan lawmakers back digital asset taxation bill
The bill which received the backing of the finance committee in the Kenyan parliament categorizes digital assets as securities and pushes for taxation.
Turkey weighs digital asset regulations to curb ‘system abuse’: report
As one of the world’s largest digital asset hubs, Turkey is focused on licensing and taxing digital asset operations to comply with Financial Action Task Force.
Australia imposes capital gains tax on DeFi, wrapped tokens
Australia has updated its tax guidance to include any interaction with decentralized lending platforms, liquidity pools and providers, and wrapped tokens.
South Africa joins 47 countries to implement new digital asset taxation standards
South Africa will implement the Crypto-Asset Reporting Framework standard by the OECD, which calls for automatic exchange of tax-relevant information between members.
IRS extends feedback deadline for new digital asset tax rules to mid-November
Feedback on the proposed digital asset tax reporting rules has been extended until November 13, according to the IRS, which crafted the regulations to curb tax evasion in the asset class.
US senators urge IRS, Treasury to implement digital asset tax rules
A letter from U.S. lawmakers called out the Treasury Department and the IRS for their delay in enforcing digital asset tax requirements, stressing that the setback leads to a massive loss in revenue.
EU parliament passes DAC8 digital asset tax reporting rule
The DAC8, which is expected to come into force in 2026, aims to provide EU tax authorities with the right tools to monitor and assess digital asset transactions to curb tax fraud and evasion.
Japanese regulator proposes digital asset tax reform
The proposed tax revision includes the elimination of year-end "unrealized gains" on digital assets, which Japan's FSA said would help promote a more favorable environment for Web3 technology.
South Korea’s Cheongju wants to seize digital currency holdings from tax evaders
Authorities in South Korea aim to recover unpaid taxes by seizing digital currencies from tax evaders in Cheongju via legal measures.
Treasury’s digital currency tax reporting rules aim to combat tax evasion in US
As the crackdown on tax evasion continues, the U.S. Treasury Department is lobbying for stringent regulations, which would include the disclosure of users' trading activity to the IRS.
IRS: Staking rewards are taxable income
Once an investor has dominion and control over the staking rewards, they become taxable income, says the IRS in latest ruling, despite SEC’s staking crackdown.