Bitcoin Blockchain and Cryptocurrency News Center
South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report. The Korean government is expected to announce its tax reform plan in late 2020. The low-level trading tax was recommended because there is a […]
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 […]
A municipality in Canada is set to accept bitcoin for property tax payments starting next month as part of a one-year trial, the CoinDesk reported. The Town of Innisfil, Ontario, announced Thursday that the cryptocurrency payment option will be offered in partnership with Toronto-based digital assets trading platform Coinberry. Starting April, approximately 36,000 residents of the town […]
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 […]
As the CoinDesk announced, a pair of New Hampshire lawmakers filed a bill this month that, if approved, would let state-level agencies accept cryptocurrencies as payment, including the state’s tax office. Representatives Dennis Acton and Michael Yakubovich introduced House Bill 470 on Jan. 3, which seeks to require New Hampshire’s state agencies accept cryptocurrencies for taxes and […]
Denmark’s tax agency (Skattestyrelsen) has confirmed it is “identifying” 2,700 individuals it says owe taxes on Bitcoin (BTC) gains, according to a Dec. 12 press release. According to Skattestyrelsen, the Danish citizens bought and sold Bitcoin via an unnamed Finnish cryptocurrency exchange between 2015 and 2017, but did not declare any profits or losses on tax documents, the CoinTelegraph reported December […]