taxes | ForkLog

ForkLog 23 15.03.2021

Duma deputy signals possible change to cryptocurrency declaration threshold

The annual turnover threshold from cryptocurrency operations, at which owners would be required to report to tax authorities about the possession of digital currencies, may be revised. This was written in his Telegram channel by Anton Gorelkin, a member of the State Duma Committee on Information Policy.

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ForkLog 28 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.

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ForkLog 14 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.

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ForkLog 19 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.

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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.

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ForkLog 14 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.

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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.

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ForkLog 34 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.

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ForkLog 8 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.

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ForkLog 13 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.

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ForkLog 17 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.

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ForkLog 13 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.

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