Explained
What is India’s levy crypto tax, and how does it apply across various types of transactions, such as trading, selling or spending your crypto?
Taxes News
It is hard to define cryptocurrency taxes, because there is a lot of controversy surrounding it today. Society still has no consensus even on whether digital currencies are a property or a currency, and that triggers a huge difference in taxation procedure. The speed of exchange rate flows makes it impossible to establish a taxation time period equally suitable for everyone. Also, there are a lot of cryptocurrencies that were particularly designed to protect user’s anonymity and their protocols wouldn’t allow any government to tax it.
As cryptocurrency market is growing, and its sheer dollar value makes it more likely to catch an attention of regulators. Cryptocurrencies are also a great way of money laundering, so no government will be able to ignore the subject. Today there are a lot of news about new cryptocurrency taxes laws and it looks like there will be more over time.
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From harsh 55% taxes to a flat 20%, Japan’s crypto overhaul promises relief for investors in a bid to boost Web3 innovation.
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India is reportedly delaying comprehensive crypto regulation as its central bank warns rules could legitimize digital assets and create systemic risks.
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Looking to live tax-free with crypto in 2025? These five countries, including the Cayman Islands, UAE and Germany, still offer legal, zero-tax treatment for cryptocurrencies.
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The draft law passed its first reading with 246 votes and proposes an 18% income tax, 5% military tax, along with a temporary 5% rate on fiat conversions in its first year.
5085 - Opinion
Brazil's 17.5% crypto tax signals a global shift as governments eye digital assets for revenue, ending the era of tax-friendly crypto investing worldwide.
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Trish Turner has resigned as head of the IRS crypto division after only a few months in the role and is reportedly moving to the private sector.
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A DeFi investor was hit with a $10.5 million tax bill after the Spanish tax agency classified a crypto-backed loan as taxable gains.
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The South Korean government passed laws in 2021 allowing regulators to seize crypto from accused tax delinquents.
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New York Assemblymember Phil Steck introduced a bill that would see the state tax the sale and transfer of crypto assets.
7522 - Explained
Japan is proposing a major reform in its tax regime for crypto assets. If passed, these changes will make digital asset investing simpler for crypto investors.
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The White House’s digital asset task force calls on regulators to clarify crypto trading rules and accelerate innovation, as a major crypto bill becomes law and two more head to the Senate.
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Indonesia’s Finance Ministry raised taxes for crypto miners and sellers, while exempting some crypto transactions from VAT.
2917 - Analysis
Wealthy crypto investors are attracted to golden visa programs thanks to their residency and tax benefits, but their list of options is getting shorter.
4310 - News
Roger Ver has sued Spain in the European Court of Human Rights to block his extradition to the US, arguing that tax evasion charges against him are politically motivated.
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