Crypto miners exempt from IRS reporting rules, US Treasury affirms
The U.S. Treasury affirmed that crypto miners and wallet operators are exempt from the IRS reporting rules, preparing appropriate regulations.
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UK tax authority makes first NFT seizure in VAT fraud case
The tax authority made three arrests in connection with a suspected tax evasion using shell companies and false identification.
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification,…
Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts
The Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpayers have in digital wallets if they have debts with the organization. The recommendation for attorneys…
Puerto Rican Treasury Department Aims to Tax NFT Sales
The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be…
Russian Government Approves Plan to Regulate Cryptocurrency
The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under…
Russian Government Eyes $13 Billion in Taxes From Crypto Economy
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as…
Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced…
No precedent: IRS court settlement doesn’t clarify crypto staking taxes
There is yet to be a conclusive court ruling regarding the taxation of staked crypto rewards; however, a recent case demonstrates industry progression.
Simple math says Russia could collect up to $13B in crypto tax each year
The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different once regulations are set in…
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