Out of the approximately $ 60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $ 34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay an outstanding tax liability of $ 15.2 million …
Based on a report by the National Post, Canada’s Revenue Agency (CRA) is actively searching for uncollected taxes on cryptocurrencies. The agency estimates that there is nearly $ 40 million in undeclared taxes related to digital currencies. Concurrently, Prime Minister Justin Trudeau is proposing an increase in capital gains taxes from 50% to 66% …
The Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has been surpassing that generated from fintech businesses. Crypto Industry Generates More Revenue than Fintech Companies Indonesia’s Commodity Futures Trading Supervisory Agency […]
Japan is considering exempting corporations from paying unrealized gains income taxes related to cryptocurrency holdings. The measure, proposed as part of a reform in Japan’s tax code, would allow companies to avoid paying taxes for cryptocurrencies even if their market value changes during each fiscal year. Japan to Stop Taxing Corporations for Unrealized Cryptocurrency Gains […]
Citizens of the Swiss city of Lugano can now settle their tax bills and other community fees with bitcoin and the stablecoin tether. By adding crypto to payment options, Lugano joins three other Swiss cities and cantons which already accept crypto payments. Accelerating the Use of Bitcoin The Swiss city of Lugano announced on …