Czech Republic Leads the Way: Long-Term Bitcoin Holdings Exempt from Capital Gains Tax
The Czech Republic is making waves in the crypto world by announcing a groundbreaking policy: Bitcoin held for over three years will now be exempt from capital gains tax.
South Korea to Delay Crypto Tax
South Korea’s cryptocurrency tax policy is once again in the spotlight, following a series of delays that have become emblematic of the challenges faced by regulators worldwide. Initially planned for 2022, the tax, which would impose a 20% levy on annual crypto gains exceeding 2.5 million won (around $1,800), was postponed several times.
Australia Opens Consultation on OECD Crypto Reporting Framework
Australia's Treasury has initiated a public consultation to gather feedback on implementing the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF). This effort aims to bolster tax transparency and counter global tax evasion as cryptocurrency adoption grows.
Italy’s Tax Shake-Up: Capital Gains Tax on Cryptocurrency Set to Jump to 42%
Italy is pushing for a major increase in its capital gains tax on cryptocurrencies like Bitcoin, from the current 26% to 42%, marking a nearly 62% hike.
Japan’s DPP Leader Pledges Crypto Tax Cuts and Regulatory Reforms in Election Bid
The leader of Japan's Democratic Party for the People (DPP) pledges to update digital asset taxes if elected
UAE Declares Tax Freedom for Crypto: A Bold Move Towards Digital Asset Dominance
The United Arab Emirates (UAE) has announced an exemption of many crypto-related activities from its 5% Value-Added Tax (VAT).
The Crypto Tax solution for Kiwi Crypto Traders
Craig MacGregor is the founder of Taxoshi, a cryptocurrency tax calculator that helps Kiwis understand their crypto tax position. Taxoshi’s algorithms automate the currency conversions and calculate your trading and mining loss and profit in accordance with the cryptocurrency guidance from the New Zealand IRD. Use the discount code “bravenewcoin” to get a 10% discount if you use Taxoshi.
Aussie crypto traders targeted by the Australian Tax Authority
As Australia’s COVID-19 crisis worsens, the Australian tax authority is reportedly in the process of contacting over 350,000 Australians to remind them to declare their cryptocurrency earnings.
New IRS guidance says Bitcoin forks and airdrops are taxable events
The IRS has issued official guidance to help taxpayers understand their cryptocurrency obligations relating to hard fork and airdrop events.
Global authorities closing in on crypto tax evaders
Operating beyond national borders, cryptocurrency presents a unique set of challenges to tax collectors. As a result, authorities are moving towards increasing international cooperation and information sharing to enforce local taxation laws.
