Albanian digital currency tax regime to be unveiled in 2023: report
The draft proposes to tax income derived from business transactions involving digital assets or block reward mining; individuals will be subject to an investment income tax of 15%.
Latest Taxation News
Spain introduces new digital currency tax reporting model
The previous framework only required holders to declare the earnings of their trading. Once the new legislation is approved, it will come into force in 2023 but will apply to operations in 2022.
India clarifies rules for filing controversial 1% TDS for digital assets
The circular from the CBDT amends the Income Tax rules to specify how firms and individuals should comply with the law. It also adds how the reporting format for the TDS should be spelled out.
How to file your digital currency taxes in India? Tax expert explains
According to Archit Gupta, founder and CEO of India-based digital currency tax filing startup Clear, India's tax regime for digital assets has some intricacies that need to be threaded with caution.
Coin Center sues US Treasury and IRS over unconstitutional digital currency tax reporting rule
The tax law amendment requires individuals and businesses that receive $10,000 or more in digital currencies to report the sender's name, date of birth, and social security number to the government.
India’s tax office clarifies website typo, 1% TDS for digital currency transactions stands
The clarification came after some observers noted that the TDS rate on the Income Tax Office's website was changed to 0.1%. Kashif Raza, was one of the first observers to point out the change.
Thailand scraps VAT for digital currency transfers until 2024
Authorities in Thailand have formally introduced a seven percent value-added tax exemption for transfers of digital currencies made on government-registered exchanges.
Brazil’s regulator now requires tax payments on digital currency transactions
The law specifies that any profit made from the transaction is taxable even when digital currency transactions do not involve Brazilian Real or other fiat currency.
Philippines: Finance department proposes to clarify digital currency taxation rules by 2024
The finance department says the details of its plans are yet to be decided, but with the incoming government's blessings, it intends to have fully implemented the tax clarity proposals by 2024.
Russia removes tax amnesty from drafted block reward mining bill
Russia's State Duma has revised several draft block reward mining bill provisions, and one of these is a proposed one-year tax amnesty for block reward miners.
Portugal’s parliament rejects proposals to tax digital currencies
The proposals were brought by two left-wing minority parties, Block de Esquerda and Livre—with Livre seeking to tax gains above €5,000 (about $5,340.45) made from digital currencies.
Portugal considers taxing digital currency capital gains
Portuguese Finance Minister Fernando Medina confirmed to Parliament that his ministry is studying how to tax digital currency gains in the country.