🇯🇵 Japan is making a bold move in crypto regulation, considering scrapping corporate tax on unrealized Bitcoin and crypto gains. A game-changer for corporate crypto investment! #CryptoTax #JapanCrypto
đź””Tax Alert: #CoinDCX’s CEO, Sumit Gupta, pushes for a drastic reduction in India’s 1% #TDS on crypto transactions. Is relief in sight, or is it a waiting game for Indian crypto traders? Dive into our report for the latest! 🇮🇳📉 #CryptoTaxIndia
Kenya introduces taxes targeting its growing cryptocurrency user base and digital content monetization.
Indonesia has set income tax on crypto gains and value-added tax on crypto purchases. The director of tax regulations said they will impose the tax on May 1. The country views crypto assets as a commodity. The Indonesian Directorate General of Taxes of the Ministry of Finance decided to tax income (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%. Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, also confirmed the decision. The director of tax regulations told CNN Indonesia Friday: “That’s right, 0.1% PPh and 0.1% VAT (for
11 crypto exchanges have been subject to tax evasion. A total of 81.54 crore rupees ($10.77M) was detected, 95.86 crore rupees ($12.6M) with penalties included. Wazirx, Coindcx, and Coinswitch Kuber are the top three exchanges with the highest amounts evaded. The government of India unveiled that the country’s tax authority had investigated 11 cryptocurrency exchanges regarding tax evasion. As of today, the government has retrieved a total of 95.86 crore rupees or $12.6 million. Last Monday in Lok Sabha, the lower house of parliament, the Indian government gave some answers to questions regarding the taxation of cryptocurrency exchanges. “Whether it
India recently applied a 30% crypto tax on high-value crypto transactions. Most Indians believe this to be too high for tax. Many have failed to file their crypto holdings in their tax returns. India’s Income Tax Department has flagged around 700 crypto investors. It seems these crypto investors are failing to pay taxes on high-value crypto transactions. To highlight, this hunt is in regard to India’s decision to put a tax on crypto transactions. In detail, India recently took a positive step towards recognizing the legal use of cryptocurrencies within its borders. However, the citizens of India are not happy
Venezuela applies 20% tax on Bitcoin and crypto transactions. Tax will apply to transactions on all foreign currencies. Only El Petro and the national currency are exempt from the tax. Following India’s decision to apply tax on crypto transactions, Venezuela comes to a similar decision. Specifically, the Venezuelan government has decided to apply a 20% tax on Bitcoin and crypto transactions. In response to this tweet from Watcher.Guru, many responded saying the 20% tax is too much. Still, this 20% tax is much less than India’s decision to tax 30% on crypto sales transactions. In detail, the Venezuelan government approved
Portugal and Thailand have chosen to exempt tax on Bitcoin and cryptos. India will take 30% tax from income made from crypto sales transactions. More and more countries are slowly taking steps to accept the use of cryptocurrencies. It seems the time for crypto and Bitcoin to be legally accepted by world governments is finally dawning this 2022. According to multiple announcements, many nations are taking active steps to acknowledge the use of Bitcoin and other cryptos. According to Blockworks’ multiple tweets, many nations are slowly taking official steps to accept the use of cryptocurrencies. Most recently, the crypto news
