Finance News

Brazilians Will Be Able to Pay Taxes With Crypto

Coins Legend February 13, 2023 0

Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies

Exchanges

Indian Crypto Trading Volumes Plummet After New TDS Tax Rule Takes Effect

Coins Legend July 5, 2022 0

Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India have fallen sharply after […]

Regulation

Tax Agency Starts Checking Crypto Traders in Romania

Coins Legend July 3, 2022 0

Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. Tax Authority in Romania Verifies […]

Regulation

Russian Parliament Adopts Tax Rules for Digital Assets

Coins Legend June 29, 2022 0

Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes Law to Tax Crypto Transactions A bill amending the Tax Code of the Russian

News

Crypto Losses? Koinly Reveals 5 Tax Hacks You Need Now

Coins Legend June 29, 2022 0

PRESS RELEASE. With crypto markets down around 50% in the past month and over 70% from their highs in late 2021, many crypto investors are searching for answers after their profits from the last few years have evaporated into the ether. Following the incredible bull market, crypto investors enjoyed over 2020 and 2021; you may […]

Regulation

Albania to Start Taxing Crypto-Related Income From 2023

Coins Legend June 25, 2022 0

Authorities in Albania are finalizing regulations that will allow the taxation of income and profits from cryptocurrency investments. The government intends to begin imposing the levy in 2023, after adopting the necessary legislation which has been proposed for public consultations. Albania Set to Impose Crypto Tax as Early as Next Year The Albanian state should […]

Market updates

Report: Pakistan Can Generate $90 Million Annually if It Introduces a 15% Tax on Crypto Transactions

Coins Legend May 20, 2022 0

Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least $90 million in tax revenues if authorities decide to […]

Finance

Australian Taxation Office to Focus on Capital Gains From Crypto Assets

Coins Legend May 18, 2022 0

The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns. Australian Taxpayers Warned They Should […]

Technology

Kazakhstan to Increase Tax for Miners, Considers Tying Levy to Crypto Prices

Coins Legend April 15, 2022 0

The government of Kazakhstan is preparing to increase the tax burden for cryptocurrency miners and intends to tie the new rate to the value of the minted cryptocurrency. The authorities in Nur-Sultan believe that such an approach would have a positive effect on the state budget. Miners in Kazakhstan to Pay Tax on the Value […]

Technology

Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits

Coins Legend April 3, 2022 0

Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan