taxes | ForkLog

ForkLog 11 09.12.2020

Experts call for denying the Russian Federal Tax Service the power to determine the market price of cryptocurrencies

The Blockchain Technology and Crypto-Economy Commission, with the support of the Digital Rights Center law firm, sent feedback to the Russian Ministry of Finance on a package of bills concerning the taxation of digital currencies.

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ForkLog 16 09.12.2020

Son of Ukrainian MPs declares $23.7 million in Monero cryptocurrency

The 19-year-old deputy of the Kramatorsk City Council Rostyslav Solod declared 185,000 XMR worth $23.7 million.

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ForkLog 19 02.12.2020

Aksakov: cryptocurrencies should be taxed as they are a high-income business

Recognition of cryptocurrencies as property will help resolve inheritance and tax issues. This was stated by Anatoly Aksakov, head of the State Duma committee on the financial market, according to Parliamentary Gazette.

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ForkLog 25 01.12.2020

When to report Bitcoin: A Look at the cryptocurrency taxation bill

A government-approved bill on cryptocurrency taxation has been submitted to the State Duma. The document provides for fines for breaches of the reporting regime for digital currencies, but the penalties are significantly more liberal than the amendments to the Criminal Code and the Criminal Procedure Code proposed earlier by the Finance Ministry, experts say.

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ForkLog 18 28.11.2020

Russian government approves bill requiring disclosure of cryptocurrency transactions

The Russian government approved a bill on the procedure for tax reporting for cryptocurrency transactions. The decision was made at a meeting held on 26 November, according to the report published today.

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ForkLog 14 27.11.2020

OECD to develop international tax standards for cryptocurrencies

The Organisation for Economic Co-operation and Development (OECD) expects to develop by the end of 2021 a single standard for exchanging tax information for crypto assets (CRS). This was stated by Pascal Saint-Amans, director of the OECD's Centre for Tax Policy and Administration, according to Law360.

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ForkLog 12 25.11.2020

South Korea delays cryptocurrency taxation until 2022

The Planning and Finance Committee of the National Assembly of South Korea proposed delaying the introduction of income tax on cryptocurrency transactions until January 2022. Local media report this.

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ForkLog 14 24.11.2020

IRS sends CP2000 notices to Coinbase users over crypto tax debts

The Internal Revenue Service (IRS) has sent letters to cryptocurrency holders demanding payment of substantial tax debts to the state, CryptoTrader.Tax said.

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ForkLog 25 12.11.2020

Russian Finance Ministry widens criminal liability for undeclared bitcoins

Owners of digital currencies face up to three years in prison if they fail to report to the tax authorities on operations equivalent to 45 million rubles or more. This provision is contained in the new version of amendments by the Russian Finance Ministry to the Criminal and Criminal Procedure Codes, RBC reports.

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ForkLog 15 11.11.2020

Lawyers call IRS interest in Coinbase a ‘red flag’

US authorities are showing growing interest in Coinbase users, and this could be a 'red flag' for holders of digital assets, according to representatives of the David W. Klasing law firm.

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ForkLog 15 10.11.2020

Protection from arbitrariness and Bitcoin regulation: what Diia City offers Ukraine’s IT sector

In the coming years, Ukraine aims to become one of the world's largest IT hubs and, in the longer term, to grow the market to $12 billion. To this end, the Ministry of Digital Transformation has developed a special legal regime, Diia City.

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ForkLog 9 07.11.2020

Canada Revenue Agency requests data on all Coinsquare clients, the country’s leading cryptocurrency exchange.

The Canada Revenue Agency (CRA) has asked a court to compel Coinsquare, the country’s leading cryptocurrency exchange, to hand over data on all of its users dating back to 2013. The National Post reports.

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