IRS: Digital currencies are top enforcement priority
An IRS Commissioner has made it clear that companies in the cannabis industry that use digital currencies must pay taxes as they are considered commodities.
An IRS Commissioner has made it clear that companies in the cannabis industry that use digital currencies must pay taxes as they are considered commodities.
The Democratic Party of Korea has reached a consensus to push for a delay in the implementation of the 20% digital currency taxation regime past January 2021.
A survey in South Korea found that only 33% of respondents oppose the new taxation regime, even as the government faces tough opposition on when to effect it.
The government will push through with the tax laws which will take effect early next year despite opposition from the majority party, according to the minister.
Ivan Assenov continues the observation of what is holding blockchain from its potential, this time looking at how governance and politics influences acceptance of blockchain.
The Biden administration said the law would not apply to non-custodial actors, but there is still some debate as to how the bill is drafted and what this could mean for the wider sector.
The IRS released a joint Priority Guidance Plan for ‘21-‘22 with Treasury and it lists its intention to issue tax guidance for digital currencies as a priority.
The Financial Administration of the Republic of Slovenia said it was considering the introduction of the charge on digital asset activity, in an upgrade to its current approach to taxing digital currency gains.
The U.S. Treasury pushed for strict reporting rules for digital currency holders in its $1 trillion Infrastructure Bill and is now pushing further in new bill.
The Iranian National Tax Administration put forward proposals for a new legal regime for digital currency trading, following a recent announcement by President Hassan Rouhani that measures would be introduced.
The digital currency industry experienced somewhat of a meltdown over the course of the last few days due to a clause in the Biden administration’s Infrastructure Bill.
Enforcement of the digital currency tax in the United States will help pay for infrastructure under a new bipartisan deal, according to comments emanating from the White House.