Stake CEO: Japan Should Cut Cryptocurrency Tax

Japan should cut corporate taxes on cryptocurrencies to retain its entrepreneur base, one of the country’s top crypto entrepreneurs said on Monday (Aug 8). “At least 20 or more” companies have moved abroad due to taxes, Sota Watanabe, CEO of infrastructure company Web3 Stake Technologies Pte.he told Bloomberg News. Watanabe moved his company to Singapore …

Read More…

Japanese Crypto Industry Urges Tokyo To Reform Tax Laws

Source: iStock/mura Japanese companies related to crypto assets have urged the government to carry out tax reforms, claiming that the current system is not in sync with the tax rules of other countries. The proposals come from Association of Crypto Asset Companies of Japan (JCBA) and the Japan Virtual Currency Exchange Association (JVCEA), which, according …

Read More…

IRS Expands Crypto Question on Tax Form – Bitcoin News Tax

The Internal Revenue Service (IRS) has modified the cryptographic question asked on Form 1040, the tax form used by all US taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) released a draft Form 1040 for tax year 2022 last week. Form 1040 is the tax form …

Read More…

Crypto Groups in Japan Launch Tax Reform Request for Fiscal Year 2023

The Japan Crypto Asset Business Association (JCBA) and the Japan Crypto Asset Exchange Association (JVCEA) have published a tax reform request for 2023. The request calls for separate taxation of cryptocurrencies at a rate of 20%, among other things. The Japan Crypto Asset Business Association (JCBA) and the Japan Crypto Asset Exchange Association (JVCEA) have …

Read More…

Tax Agency Vows to Go Hard After Koreans Use Crypto to Evade Taxes – Bitcoin News

The South Korean tax administration has pledged to crack down on tax evasion through virtual assets and platforms. While the Korean government has yet to begin taxing capital gains resulting from cryptocurrency investment and trading, authorities in Seoul claim that cryptocurrencies have been actively used for money laundering. Korean Citizens Accused Of Investing In Crypto …

Read More…

What Kazakhstan’s New Tax Regime Means for the Crypto Mining Industry

On July 11, Kazakhstan President Kassym-Jomart Tokayev enacted new tax rates for crypto mining operators. While these amendments reflect the country’s growing frustration with the opaque and low-taxed use of the national electricity grid by both foreign investors and domestic perpetrators, the new taxes could hardly be called exclusionary. Additionally, they could signal increased adoption …

Read More…

The IRS is working on a new tax form to capture your crypto activity

The IRS seeks to be more efficient in collecting taxes from cryptocurrency trading getty What happened The Infrastructure Act passed by the US Congress in 2021 brought cryptocurrency exchanges under the controversial definition of “broker” and subjected them to the IRS information reporting regime. As a result, starting January 1, cryptocurrency exchanges will be required …

Read More…