taxes | ForkLog

ForkLog 24 11.03.2021

Japanese court has, for the first time, imprisoned a Bitcoin holder for tax evasion

A 56-year-old resident of Komatsu, Hideji Matsuda, was sentenced to one year in prison and a fine of 22 million yen (over $202,000) for concealing income from cryptocurrency trading. The case marks the first such ruling in the country's jurisprudence, local media reported.

AI translated

ForkLog 8 08.03.2021

US authorities to pursue crypto traders evading taxes

The U.S. Internal Revenue Service (IRS) has launched Operation 'Hidden Treasure' to root out residents concealing their income from cryptocurrency transactions, Forbes reports.

AI translated

ForkLog 10 04.03.2021

IRS clarifies when Bitcoin need not be reported on a tax return

US residents do not need to report the acquisition of cryptocurrency on the first page of Form 1040 if they adhere to the Buy&Hold strategy — a strategy that involves buying assets and holding them long term in anticipation of substantial price growth. This follows from the IRS's updated FAQ page.

AI translated

ForkLog 4 03.03.2021

TaxBit raises $100 million in round led by PayPal, Coinbase and the Winklevoss companies

TaxBit, the software maker for calculating taxes and automating cryptocurrency accounting, announced the closing of a $100 million Series A financing round.

AI translated

ForkLog 11 03.03.2021

Lawyer explains how the cryptocurrency taxation bill would affect its holders

On 17 February 2021, the State Duma of the Russian Federation, in the first reading, approved the government bill on taxation of cryptocurrency transactions.

AI translated

ForkLog 15 01.03.2021

Media: Russian presidential and parliamentary candidates to be obliged to disclose cryptocurrency deals

Government bill-drafting commission reviews the Ministry of Labour's draft on mandatory disclosure of deals with digital financial assets (DFAs) and digital currencies by candidates for elective offices, according to Vedomosti, citing sources familiar with the situation.

AI translated

ForkLog 26 01.03.2021

South Korea to impose capital gains tax on cryptocurrency trades from 2022

The Ministry of Economy and Finance of South Korea has determined the timing for the introduction of a capital gains tax on cryptocurrency transactions. The changes will take effect on 1 January 2022, The Korea Herald reports.

AI translated

ForkLog 7 24.02.2021

Duma says cryptocurrency legalisation must come before taxation

To tax cryptocurrencies, their transactions must be legalised. This was stated by Pavel Krasheninnikov, head of the State Duma Committee on Legislation, Interfax reports.

AI translated

ForkLog 7 18.02.2021

Tajik authorities assess taxes on several dozen Bitcoin miners

Citizens and companies that mined the first cryptocurrency in Tajikistan have been ordered to pay taxes. Sputnik reports, citing the tax committee under the government of the republic.

AI translated

ForkLog 10 17.02.2021

Draft cryptocurrency taxation law approved in principle at first reading in Russia

On February 17, the Russian State Duma, in the first reading, approved in principle a draft law on taxing cryptocurrency transactions.

AI translated

ForkLog 9 16.02.2021

Budget Committee approves cryptocurrency tax bill in Russia

The State Duma Budget and Taxes Committee recommended that the lower house approve in the first reading the government bill on taxing cryptocurrency transactions.

AI translated

ForkLog 7 15.02.2021

Seventeen devices illegally mined Bitcoin at Tajikistan kindergarten

Four Tajikistan residents have been detained for illegal connection to power grids to mine Bitcoin and for tax evasion. According to the local desk, the media has been recognised as a foreign agent by the Russian authorities (Radio Liberty). The operations took place last year, but they became known only now.

AI translated

#taxes