British taxman seizes 3 NFTs for the first time in tax fraud probe
Her Majesty’s Revenue and Customs (HRMC) also seized $6,700 worth of digital assets and arrested three people alleged to have defrauded the gov’t of $1.9 million in taxes.
Her Majesty’s Revenue and Customs (HRMC) also seized $6,700 worth of digital assets and arrested three people alleged to have defrauded the gov’t of $1.9 million in taxes.
The proposal by the Minister of Finance will also see miners pay a monthly tax on their mining rigs, whether they use them to mine or even if they’re not in operation.
A bipartisan group in the U.S. Congress has proposed the "Virtual Currency Tax Fairness Act," which aims to make smaller profits on personal transactions exempt from capital gains tax.
To protect the bolivar, the government is reportedly going after digital currency users, imposing a 20% tax on BTC transactions to curb its growing usage for payments in the South American country.
Aditya Singh, founder of the YouTube channel "Crypto India," started a petition against the 30% digital currency tax rate, which 60,000 people have signed at the time of writing.
The tax agency, known as DIAN, acknowledged the rise in digital currency adoption and said it had initiated actions to control taxpayers who own them.
Senator Wendy Rogers’ bill also protects the right to run a node on any network and wants to make it legal to pay taxes and fines in any digital currency.
The Thai taxman was to begin collecting the 15% tax this year, but it will now only impose capital gains from traders even as the government bans Bitcoin payments.
BSV blockchain will be at the center of the first BSV Global Blockchain Convention. The three-day event will be held in Dubai from May 24 to 26 at the Grand Hyatt Hotel.
The digital rupee will be launched on April 1, while the Indian government proposes a 30% tax on digital currency sales and a 1% tax on digital currency transactions.
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.