UK MP Wants to To Introduce Bitcoin Tax Payments

UK Member of Parliament, Eddie Hughes, has called for local authorities to take a lead, and accept Bitcoin payments. The Conservative politician also believes that a lack of reliable information is holding back wider adoption. The UK Should Take the Lead MP Hughes’ comments, reported in the Express newspaper, follow the recent announcement that Ohio now […]

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Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year. Record Loss Claims in Cryptocurrency Tax Filings In a press release by NODE40 – a cryptocurrency accounting firm, the company […]

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France Considers a Flat Capital Gains Tax for Bitcoin

The finance commission in France’s lower house of parliament has reportedly backed plans to decrease taxes on bitcoin sales, putting it on the same level as the standard capital gains tax. 30% Flat Tax on Bitcoin Gains Reuters reports that the finance commission in the lower house of the French parliament has backed plans to […]

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South Korea: Reports of 10% Tax on Cryptocurrency Gains Are Fake

10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year. Governments want their piece of the pie and traders are anxious to know how badly their tax collectors plan to gouge them. Luckily, many governments have already announced their stances on the matter. Some have […]

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Russia: Cryptocurrency Users Must Calculate Own Tax

Wilma Woo · June 7, 2018 · 5:00 pm Russian citizens will have to compute their own tax obligations from cryptocurrency trading, the head of the country’s tax office said on June 6.  Cryptocurrency Trading Is ‘Excess Income’ In a document originally compiled last month,  Alexey Sazanov, director of the Russian Ministry of Finance’s tax […]

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Crypto Investors Could Inadvertently Commit ‘Potential Felony,’ Tax Expert Says

Georgi Georgiev · April 10, 2018 · 6:00 am As tax day rapidly approaches, there’s no lack of uncertainty amongst tax professionals regarding cryptocurrency investors purchasing digital assets through foreign exchanges. Regardless of the government’s seemingly straightforward legislative position, ambiguity continues to riddle the field when in-depth analysis is made. What Does the Law Say? […]

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The New Normal: Cryptocurrency Goes Mainstream This Tax Season

Bitcoinist.net · February 18, 2018 · 7:30 am Until quite recently, most cryptocurrency investors either did not know or did not care to pay taxes on the capital gains they accumulated buying and selling digital coins. The cryptocurrency community is now facing a hard truth: they have to pay taxes just like all the rest […]

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