taxes | ForkLog

ForkLog 12 09.06.2021

Denmark to amend its 1922 tax code to reflect cryptocurrency activity

Denmark will amend the tax code to properly reflect residents' cryptocurrency operations. This was warned by the head of the country's tax authority, Morten Bødskov (Morten Bødskov), writes Berlingske Tidende.

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ForkLog 70 09.06.2021

IRS seeks funding increase to strengthen crypto oversight

The Internal Revenue Service (IRS) is counting on a bigger budget for 2022. The agency also needs $32 million to expand its tax administration capabilities in the cryptocurrency space and to combat cybercrime.

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ForkLog 16 04.06.2021

South Korean residents must disclose overseas cryptocurrency exchange accounts

South Korean residents must report assets held on overseas cryptocurrency exchanges as part of tax compliance. Forkast reports, citing the relevant agency.

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ForkLog 17 01.06.2021

How Kazakhstan’s proposed extra charge on mining could deter Chinese miners’ migration

After a sharp tightening of rhetoric toward the crypto industry in China, local miners began seeking other jurisdictions. Kazakhstan emerged as a destination. However, interest from Chinese miners may wane due to a proposed additional electricity charge for miners.

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ForkLog 6 28.05.2021

Australian authorities to require crypto investors to pay additional taxes

The Australian Taxation Office (ATO) will inform 100,000 residents about the need to review income data from cryptocurrency transactions for 2020, according to Tim Loch, assistant to the agency's chairman, as reported by news.com.au.

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ForkLog 8 26.05.2021

Colorado weighs allowing tax payments in bitcoin

Colorado could become the first state to allow residents to pay taxes in cryptocurrencies. Governor Jared Polis will discuss this possibility with the state's finance secretary, CoinDesk reports.

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ForkLog 7 18.05.2021

Duma approves bill requiring candidates to declare cryptocurrency holdings

The State Duma has approved in the first reading a bill requiring candidates for elected office to disclose expenditures on acquiring digital financial assets and digital currencies.

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ForkLog 5 17.05.2021

Ukraine’s deputy defence minister declares 53 BTC

The deputy defence minister of Ukraine, Yuliy Gere, declared bitcoin holdings worth $2.4 million.

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ForkLog 11 14.05.2021

Four people arrested in Turkey for smuggling 501 Bitcoin miners

Turkish Customs confiscated a record batch of smuggled ASIC miners worth 5 million Turkish lira ($600,000).

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ForkLog 40 13.05.2021

IRS seizes crypto assets to settle tax debts

The U.S. government treats digital assets as property that can be seized to pay tax debts. This was stated by Robert Uering, deputy assistant general counsel of the IRS, Bloomberg Law reports.

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ForkLog 9 12.05.2021

Hungary to halve tax on crypto trading profits

The tax rate on profits from cryptocurrency transactions in Hungary will be 15%, down from the current 30.5%, as part of a GDP-stimulus program. The proposals were presented by economy minister Mihály Varga.

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ForkLog 5 11.05.2021

Indonesia to discuss introducing tax on cryptocurrency profits

Indonesian authorities plan to tax profits from cryptocurrency trades.

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