Thai taxman expects to impose a 15% withholding tax on digital currency profits but will hold a public hearing to collect feedback as it seeks to foster growth in the sector.
South Korea’s tax agency will use data from the Big Four exchanges to determine the daily average price upon which it will determine the tax to impose.
While insiders at the tax agency claim the probe is related to slush funds and tax evasion, Hashed executives said it’s unlikely since tax regulations were postponed.
The U.K. tax agency will impose a 2% digital service tax, which is reserved for tech outfits like Google and Facebook, on digital currency exchange, which, in turn, will be passed on to users.
The Russian tax agency is concerned with tax evasion through digital currencies, but warned that it can still track evaders as they leave a digital footprint.
South Korean legislators are reportedly edging closer to imposing a 20% capital gains tax on digital currencies and change them from currencies to commodities.
South Korea has proposed levying taxes on digital currency income starting 2021. The country will also tax digital currency processing operations and ICOs.
The IRS has called on qualified firms to come onboard and assist it to calculate whether U.S digital currency traders are paying their taxes on their holdings.
The Spanish tax authority is stepping up its digital currency taxation efforts, with a report indicating it’ll quadruple its notices to digital currency owners.
Tax experts in South Korea have proposed a gradual tax imposition for crypto, starting with a low level tax trading before the transfer income tax application.
The crypto exchange’s largest shareholder learned about the taxes days ago after acquiring a majority stake in the firm, intends on seeking legal redress.