taxes News

Turkey’s Treasury and Finance Minister Mehmet Şimşek is reportedly considering a new tax on gains from investments in stocks and crypto as part of efforts to support disinflation. Gains from activity associated with trading crypto and stocks may soon be…

If this article makes you realize you forgot to report your crypto gains in past years, consider amending it to fix it. Don’t wait for the IRS to find you.

Indonesia witnessed a notable downturn in its crypto tax revenue in 2023, plunging by 62% compared to the previous year, despite the surge in Bitcoin's value.

In a bid to become a crypto hub, Thailand has removed value-added tax for crypto trading with immediate effect. According to a report by the Bangkok Post, the Finance Ministry of Thailand is set to establish the country as a…

The Spanish Ministry of Finance aims to enhance its authority to seize crypto and non-fungible tokens (NFTs) as part of a new tax reform. The Ministry of Finance of Spain is gearing up to push a new tax reform that…

IRS and Treasury say businesses do not have to report cryptocurrency receipts until new regulations are issued. In a press release on Jan. 16, the Internal Revenue Service (IRS) said in a joint statement with the U.S. Treasury Department that…

After India introduced a 30% tax on crypto profits and a 1% TDS on transactions, local crypto traders started shifting their funds to offshore exchanges.

The Internal Revenue Service (IRS) is naming four crypto crimes to its top 10 scams 2023 list in an effort to raise consumer awareness. Scams in crypto come hard and fast. In honor of this, the IRS recently published a ranking…

The Brazilian Senate has approved a new taxation policy, effective Jan. 1, imposing up to a 15% tax on earnings from crypto held in foreign exchanges.

Ukraine’s largest crypto exchange, Kuna, says the country has lost dozens of billions of dollars since 2016 in revenue related to the crypto market. Ukraine’s state budget has lost $52.9 billion in revenue from taxes and other crypto-related activities since…

Thailand’s Revenue Department has unveiled plans to tax overseas income, including cryptocurrency trading revenues, of individuals staying in the country for over 180 days. This updated regulation, set to be implemented on January 1, 2024, broadens the scope from the…

With the metaverse booming to 400 million users, the challenge arises: how do we tax this burgeoning virtual world?

A Harvard scholar argues that the authorities should swiftly introduce taxation on Metaverse earnings to potentially enhance governmental revenue streams.

Indian authorities are intensifying their crackdown on gaming and betting applications using cryptos and offshore companies to evade taxes.  According to a report from The Economic Times, several agencies are investigating networks of dummy companies that allegedly use crypto assets…

The Brazilian Congress is pushing forward legislation allowing for the taxation of crypto assets held abroad by citizens of the South American country. According to the local press, Brazilian lawmakers on Aug. 11 approved amendments to a bill that defines…

Ukrainian authorities allege crypto exchanges have evaded over $81 million in contributions to the national budget over the past ten years. A tweet from Aug. 2 highlighted that non-affiliated crypto exchanges were accountable for a tax deficit of at least…