taxes | ForkLog

ForkLog 11 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 10 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 17 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 13 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 7 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 5 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 6 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 14 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 8 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 7 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 7 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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ForkLog 12 04.11.2020

Cryptocurrencies in Russia come under threat from a new currency-control bill

Cryptocurrency wallet and Bitcoin-exchange account holders may potentially come under the supervision of the Russian Federal Tax Service (FNS) due to proposed amendments to the law 'On Currency Regulation and Currency Control', according to experts interviewed by ForkLog.

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