Bitcoin Blockchain and Cryptocurrency News Center
The small Iberian nation is set to reverse a long-standing tax law that excluded crypto gains on the grounds that they are not legal tender. To the chagrin of many Golden Visa seekers, Portuguese Finance Minister Fernando Medina has confirmed that his country will begin taxing cryptocurrency but has not committed to a date. The […]
The Internal Revenue Service is aware that millions of cryptocurrency transactions may still remain unreported. Taxpayers may think they will not be caught, and many Coinbase users may have thought their information would be protected until the John Doe summons proved otherwise. The best way to avoid penalties is to disclose and report as accurately as you […]
The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT), the CoinTelegraph reported. According to the announcement, cryptocurrency payments that are subject to the provision of services under Article 9 (27) (d) of Portuguese tax law are exempt from VAT. This applies […]
Big Four auditing and professional services firm Ernst & Young EY has launched a tool for accounting and preparing taxes on cryptocurrency holdings, according to a press release published on Mar. 4. As the CoinTelegraph announced, the new tool called EY Crypto-Asset Accounting and Tax (CAAT) is designed to improve accounting and tax calculations for […]
A significant crypto market slump has brought concern and alarm, but also some unexpected side benefits, the CoinTelegraph reported. One such benefit comes from how financial regulators in the United Kingdom now appear sufficiently relaxed about crypto and its growth that they can take their time to carefully consider fair regulation. Without the pressures of a rapidly climbing crypto […]