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Search Results for: tax

MetaMask and CoinLedger Join Forces for Enhanced Crypto Tax Reporting

MetaMask, a provider of Web3 self-custody wallets, and CoinLedger, a tech company that focuses on software for reporting crypto taxes, announced their alliance on March 18. Users of MetaMask will benefit from improved compatibility and functionality thanks to the collaboration. Moreover, a news release states that CoinLedger’s tax reporting software

March 19, 2024 1 min read

IMF Urges Pakistan to Tax Crypto Capital Gains for $3B Bailout

In order to be eligible for $3 billion in bailout money, the International Monetary Fund (IMF) has mandated that the Federal Board of Revenue (FBR) of Pakistan impose a Capital Gains Tax (CGT) on investments in cryptocurrencies. The IMF suggested that Pakistan’s FBR tax cryptocurrency capital gains during the review

March 18, 2024 2 mins read

El Salvador Drops Income Taxes on Foreign Investments

President Nayib Bukele of bitcoin-friendly El Salvador has done away with income taxes on foreign investments entering the country. Bukele stated in a post on X: “Congress has reformed our income tax law, for international investments and money transfers, dropping the rate from 30% to 0%,”  Since September 2021, when

March 13, 2024 2 mins read

U.S President Proposes 30% Tax on Crypto Mining Power in 2025 Budget

In his proposed budget for the year 2025, Joe Biden, the president of the United States, has brought back the concept of a 30% tax on the power used by cryptocurrency miners. As stated in the U.S. Department of the Treasury paper “General Explanations of the Administration’s Fiscal Year 2025

March 12, 2024 2 mins read

Indonesia’s Regulatory Body Calls for Assessment of Crypto Taxation Policies

The Commodity Futures Trading Regulatory Agency (Bappebti) of Indonesia has reportedly requested that the Ministry of Finance evaluate the country’s policy on the taxation of cryptocurrencies. Members of Bappebti’s executive staff have reportedly asked for a review of the 0.11 percent income tax on cryptocurrency and the 0.1 percent value-added

March 2, 2024 1 min read

Japan Eases Crypto Tax Burden for Businesses in 2024 Reform

The Japanese government adopted the framework for crypto tax reform for fiscal year 2024 at a cabinet meeting that took place on December 22nd. A major adjustment affecting firms holding crypto assets comes with this change. Corporations owning virtual currencies issued by third parties are no longer subject to the

December 24, 2023 1 min read

Brazil Implements Overseas Crypto Asset Taxation Starting January 2024

Brazilian individuals’ crypto assets kept overseas will now be subject to taxes, according to a bill signed into law by President Luis Inácio Lula da Silva. After being signed by the President on December 12, the legislation was published the next day in the Official Diary of the Union, also

December 15, 2023 1 min read

Defunct Crypto Exchange FTX Disputes U.S IRS’s $24 Billion Tax Claim

The defunct cryptocurrency exchange claims that any “meaningful recovery” intended for FTX victims will be swallowed up by the U.S Internal Revenue Service’s (IRS) planned $24 billion tax bill. Since May, the US tax authorities have been attempting to collect past due taxes from the defunct cryptocurrency exchange and its

December 12, 2023 1 min read