South Korea edges closer to 20% digital currency gains tax
South Korean legislators are reportedly edging closer to imposing a 20% capital gains tax on digital currencies and change them from currencies to commodities.
Latest Taxation News
South Korea wants to tax digital currency income from 2021
South Korea has proposed levying taxes on digital currency income starting 2021. The country will also tax digital currency processing operations and ICOs.
IRS calls for help calculating traders’ digital currency returns
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.
Spain is sending 66,000 tax notices to digital currency owners
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.
South Korean tax experts propose gradual two-step crypto taxation
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.
Crypto exchange Bithumb hit with $68.9M in witholding tax
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.
This week in tech: Jack Dorsey eyes decentralized social media platform
Jack Dorsey believes social media platforms shoud adapt a decentralized and open source standard, and Twitter is funding the team that will work on this.
Kazakhstan will only tax cryptos once they are sold for fiat
Kazakhstan will eliminate all taxes on cryptocurrency mining and will only tax cryptos once they are sold for fiat currencies.
BTC is not money: UK updates crypto tax guide
The tax agency issued a guide on what it will consider for taxation, while stating that it considers Bitcoin as commodity not currency.