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Taxes

Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

</header> <strong>Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions …

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A History of Violent Intervention: John McAfee Offers to Help Cuba Resist US Sanctions With Crypto

</header> <strong>Former antivirus software guru and 2020 Libertarian presidential “hopeful” John McAfee is a controversial figure, polarizing opinion in politics and culture, and taking a bold stand against the U.S. federal government. Most recently this has involved offering to help the Cuban state develop its own cryptocurrency in the interest of avoiding U.S. interventionism in …

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IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users

<header class=”article__header”> </header> <strong>A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts and issue subpoenas to make sure U.S. residents are …

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Kevin O’Leary: Crypto ‘Crap’ Is Not Compliant, Rogue Currency

Canadian businessman and TV personality Kevin O’Leary said that cryptocurrencies pose serious compliance challenges to the financial services industry During an interview published on July 3, O’Leary said that he would not invest or get involved in cryptocurrencies because of their purportedly unregulated nature: “If I want to be compliant and I don’t wanna breach …

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Node40 Executive Explains What to Expect When the IRS Issues Its New Crypto Policy

<header class=”article__header”> </header> <strong>Last May, the U.S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance. This week news.Bitcoin.com spoke with …

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Bitcoin Prices Could Make Paying Taxes in Bitcoin Even More Attractive

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. This discussion should not be regarded as legal advice. Bitcoin and other crypto prices have recently been highly volatile. If you are holding bitcoin or other crypto, you may well not want to sell …

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Japan: Tax Authorities Say Crypto Traders Owe Them $93 Million

Japan-based entities have failed to report their crypto gains valued at 10 billion yen ($93 million) over the past several years by March 2019, local national newspaper Asahi Shimbun reports on June 5. According to Asahi, about 30 crypto-related businesses and 50 individuals have not declared their revenues from cryptocurrency trading as of March, allegedly …

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Belarus General Prosecutor Warns About Cryptocurrency’s Use in Tax Evasion

Belarus’ general prosecutor has raised concerns about the role cryptocurrency could be playing in tax evasion, local daily news outlet TUT.by reported on June 4. Speaking as Belarus hosted the International Prosecutors Association’s regional conference, Aleksandr Konyuk said the time had come for all attendants’ authorities to study cryptocurrency use. Belarus had become one of …

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Verizon avoided a decade’s worth of taxes—a new law could make it pay up

Enlarge / A Verizon logo at GSMA Mobile World Congress 2019 on February 26, 2019 in Barcelona, Spain. Getty Images | David Ramos Verizon has avoided paying local taxes on telecom equipment in many New Jersey municipalities over the past decade, but a proposed state law would force the company to pay back taxes for …

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Crypto-Italy: Institutions, Politics, Business and Society

Between May 23 and 26, 2019, the European Union’s citizens are renewing their continental parliament. Among the countries that will participate in the poles is Italy (voting on May 26) — one of the founding members of the EU, alongside France, Germany, Belgium, Netherlands and Luxembourg. Due to the very nature of cryptocurrencies, it’s tough …

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