taxes | ForkLog

ForkLog 20 18.04.2024

Swedish Miners Face $90 Million Tax Claims

The Swedish tax authority, Skatteverket, has identified a tax shortfall from mining companies amounting to nearly 1 billion kronor (over $90 million). An investigation conducted from 2020 to 2023 revealed violations in 18 out of 21 examined companies in the sector. “The companies we examined used a specific approach to conceal their involvement in mining, […]

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ForkLog 20 15.04.2024

IRS Anticipates Surge in Crypto-Related Crimes

The United States Internal Revenue Service (IRS) is bracing for a significant increase in cryptocurrency tax crimes. This was stated by the head of the agency’s criminal investigation department, Guy Ficco, in an interview with CNBC. The statements were made ahead of the April 15 deadline for U.S. citizens to file their tax returns. According […]

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ForkLog 19 25.03.2024

Binance Executive Allegedly Flees Nigeria

Nadeem Anjarwalla, Binance’s Director for West and East Africa, has reportedly left Nigeria illegally, according to local media. Reports indicate that the executive escaped custody on March 22 after being taken to a nearby mosque for prayers. Anjarwalla departed Abuja on a Middle Eastern airline. Immigration officials stated he left Nigeria using a Kenyan passport. […]

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ForkLog 16 25.03.2024

IMF Delays New Cryptocurrency Regulation in Ukraine

The International Monetary Fund (IMF) has postponed the preparation of an updated version of legislation on the regulation of virtual assets in Ukraine to the end of December 2024. It was previously scheduled for completion by the end of June. The development of the regulatory document remains the responsibility of the NBU and the NSSMC. […]

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ForkLog 8 22.03.2024

US Government Claims $3-5 Billion from FTX

The US government’s claims against the assets of the collapsed FTX are expected to range from $3 billion to $5 billion, according to The Block, citing court documents. The tax claims by the authorities are not yet fully determined. However, administrative expenses and claims from non-government creditors will be prioritized for payment. The debtors have […]

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ForkLog 8 21.03.2024

Kyiv Council Members Identified as Cryptocurrency Holders

The Ukrainian civic movement “Chesno” has scrutinized the declarations of Kyiv city council members to identify cryptocurrency holders. ? To track the assets Kyiv City Council members will declare in 2023, the Chesno Movement analyzed declarations from the start of their term and the first year of the full-scale invasion. More details in the new […]

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ForkLog 10 13.03.2024

US Proposes 30% Excise Tax on Bitcoin Mining Electricity

The administration of US President Joe Biden has proposed a 30% excise tax on electricity used for cryptocurrency mining, such as Bitcoin. Biden administration is proposing a 30% tax on electricity used by #bitcoin miners, even if you are off-grid using your own solar and wind generation. All of the reasons they provide are pretextual, […]

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ForkLog 35 26.02.2024

Ukrainian National Police Lead in Cryptocurrency Declarations for 2022

The data monitoring service Opendatabot calculated that in 2022, employees of Ukraine’s National Police and Prosecutor’s Office submitted the most declarations of cryptocurrency ownership. Out of 1428 declarations during the specified period, these two agencies accounted for 171 (12%) and 150 (10.5%) reports, respectively. Data: Opendatabot. Officials from city councils rank third in terms of […]

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ForkLog 29 26.02.2024

Potential Easing of Crypto Regulations in South Korea Post-Elections

The government formed after the upcoming April elections in South Korea may ease certain regulations on digital assets, according to DL News. Journalists noted that the two main political parties — the People Power Party and the Democratic Party of Korea — are considering the approval of spot Bitcoin ETFs. Such plans diverge from the […]

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ForkLog 6 22.02.2024

South Korean Authorities Collect $4.6 Million in Cryptocurrency Taxes

The tax department of South Korea’s Gyeonggi Province has announced the collection of $4.6 million in taxes from cryptocurrency income evaders in 2023, according to local media. Previously, the process was delayed for months due to the need to send official requests to trading platforms for each user. Now, authorities have utilized a new digital […]

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ForkLog 22 17.02.2024

Ukraine Rejects Preferential Taxation for Cryptocurrency Transactions

The Verkhovna Rada of Ukraine will not consider a proposal to introduce preferential taxation on personal income from digital asset transactions. This was stated by Danylo Hetmantsev, head of the parliamentary committee on finance, tax, and customs policy, in an interview with Interfax-Ukraine. “Frankly, we do not want to stimulate crypto activities, which are inherently […]

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ForkLog 38 12.02.2024

Ukraine Counts Cryptocurrency Millionaires Among Officials

The data monitoring service Opendatabot has identified the largest cryptocurrency holders among Ukrainian officials. In 2022, digital assets were mentioned in 1,428 declarations by public servants, doubling the 2021 figure of 788. The three most popular coins are Bitcoin (listed in 816 declarations), Ethereum (624), and USDT (490). Data: Opendatabot. In 2021, Anna Pozdnyakova, director […]

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