Malaysia Targets Crypto Tax Evaders with Ops Token Initiative
In order to lessen tax income leakage from crypto trading, the Malaysian government agency IRB carried out a special operation known as "Ops Token."
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Latest firstTurkey Denies Intentions to Tax Crypto and Stock Gains
Turkey has rejected proposals to tax crypto and stock market gains, but it has proposed a "very limited" transaction tax.
U.S. Lawmakers Propose Clear Tax Guidelines for Crypto Block Rewards
Key Takeaways In a significant development, Congressman Drew Ferguson and Wiley Nickel introduced the Providing Tax Clarity for Digital Assets Act to the U.S. House of Representatives on April 30. The bipartisan effort seeks to establish clear guidelines regarding the…
Canada Adopts International Crypto Tax Reporting Standard
Canada anticipates implementing the global CARF for taxation by 2026, as stated in an addendum to the 2024 annual budget.
IRS Expects Surge in Crypto Tax Crimes Ahead of Tax Filing Deadline
Key Takeaways Tax evasion related to cryptocurrencies is expected to surge this year, according to Guy Ficco, the head of criminal investigations at the Internal Revenue Service (IRS). Speaking at the Chainalysis Links event in New York, Ficco revealed that…
KuCoin India Introduces 1% TDS on Crypto Transfers
Key Takeaways KuCoin, a prominent cryptocurrency exchange, has unveiled a significant update affecting its Indian user base. Effective April 10, 2024, the platform will implement a 1% Tax Deducted at Source (TDS) on Virtual Digital Asset (VDA) transfers, aligning with…
IMF Urges Pakistan to Tax Crypto Profits for $3B Bailout Fund
Key Takeaways The International Monetary Fund (IMF) has made significant recommendations for tax reforms in Pakistan, aiming to enhance revenue generation and stabilize the economy amidst multifaceted challenges. Among these proposals is the expansion of the Capital Gains Tax (CGT)…
Indonesia Looks to Reconsider Dual Crypto Taxation Policy
Key Takeaways Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) is pushing for a reconsideration of the country’s cryptocurrency taxation policies. Currently, Indonesia levies a 0.11% value-added tax (VAT) on each crypto transaction and imposes a 0.1% income tax on capital…
IRS Employs Private-Sector Crypto Experts for Tax Season Preparation
The US IRS has hired two new private-sector specialists in cryptocurrency taxation to concentrate on digital assets.
South Korean Province’s Digital Tax Tracking Nets $4.6M from Crypto Accounts
Key Takeaways Gyeonggi Province, located in South Korea, is leading the charge in modernizing tax collection methods by embracing innovative technology to track down taxpayers with virtual assets. In a groundbreaking announcement on February 22nd, the province revealed that it…