January 20, 2019 @ 12:00 pm By Cali Haan  |  

“Due to the boom that the commercialization of these assets,” profits from the sale and trading of bitcoins and other cryptocurrencies are now taxable in Chile, Diario Bitcoin reports. Chilean tax authorities have added a special provision to tax form 22, a deliberately vague, catch-all… Read More

January 17, 2019 @ 10:08 pm By Cali Haan  |  

A survey conducted by the credit score provider Credit Karma of 1009 US adult Bitcoin investors has determined Americans investors may have incurred $1.7 billion in collective realized losses from Bitcoin speculation- about $718 USD each. The survey also determined an additional $5.7 billion in… Read More

January 14, 2019 @ 8:14 pm By JD Alois  |  

The Danish Tax Agency has been authorized to obtain information on trading in cryptocurrencies via three separate crypto exchanges operating in Denmark. This will mark the first time the information is being made available to the tax authorities which seek to review trading data on crypto beginning on January 1, 2016, up to December 31, 2018. Skattestyrelsen har fået tilladelse… Read More

January 14, 2019 @ 4:15 pm By Cali Haan  |  

The Bulgarian National Revenue Agency (NRA) is launching a series of “control actions” to inspect nine cryptocurrency exchanges operating in the region, Novinite reports. The inspections are being conducted in order to ensure that clients and the companies themselves are complying with local tax requirements…. Read More

December 12, 2018 @ 9:02 pm By Cali Haan  |  

A Danish lawyer and “Bitcoin expert,” Payam Samarghandi, has claimed that Denmark’s Bitcoin and crypto traders have been confused by grey tax regulations, which may have put them at risk of future tax penalties: “There are several of them that the tax authorities have contacted now… Read More

December 9, 2018 @ 1:49 pm By Cali Haan  |  

Over the past two weeks, the Israel Tax Authority has opened tax accounts for hundreds of Israelis it believes failed to report profits from cryptocurrency investing, Calcalist reports. The authority is also striking deals with Israeli crypto exchanges obliging them to report big transactions. Notices… Read More

November 26, 2018 @ 3:56 pm By JD Alois  |  

Today, Bitcoin is the most widely recognized and accepted crypto on the planet. While you can do a lot of things with BTC, there is one thing you cannot do: pay your taxes. That is until today. Starting this week, OhioCrypto has been launched by… Read More

November 25, 2018 @ 5:31 pm By Therese Torris  |  

While the price of bitcoin and most cryptocurrencies is experiencing one of its frequents crashes, the French government and the French regulators are steadfastly working hand in hand to make France a cryptoasset-friendly country. After tackling the issue of initial coin offering (ICO) regulation and… Read More

November 15, 2018 @ 12:25 pm By JD Alois  |  

KPMG Australia and Independent Reserve have joined to manage a pressing issue: taxes for cryptocurrency transactions. The two companies have partnered on a new “Crypto Tax Estimator.” Founded in 2013, Independent Reserve is said to be the largest cryptocurrency exchange in Australia. The crypto exchange… Read More

October 24, 2018 @ 8:09 am By Cali Haan  |  

As part of its efforts to capture tax dollars and curtail fraud and tax amnesties, the government of Spain has passed new anti-fraud laws requiring the mandatory declaration of cryptocurrency holdings and the documentation of all “operations” involving them, ABC Economy reports. Minister of Finance,… Read More

August 30, 2018 @ 2:37 pm By Cali Haan  |  

The Polish government has published proposed legislation seeking to define how cryptocurrencies will be taxed in the country, Kryptowaluty reports. The bill reportedly defines cryptocurrencies as, “a digital mapping of value,” and includes rules governing both the use of cryptos in retail purchases and their use as… Read More

August 20, 2018 @ 10:03 pm By Cali Haan  |  

Two young braggarts who took to the Norwegian media to boast about millions in crypto profits last year are backpedalling now after media showed they disclosed minimal gains on their 2017 tax returns, Dagens Naeringsliv reports. Crypto-mining partners Philip Eriksen and Roy Arne Olsen, both… Read More

May 30, 2018 @ 7:29 am By Cali Haan  |  

Chinese tech behemoth TenCent is cooperating with tax authorities in the Shenzhen province to develop a blockchain-based and Big Dat-fed “intelligent tax” system.   Tencent last year joined Facebook, Google and Amazon as one of handful of companies on the globe to pass the $500 billion… Read More

April 30, 2018 @ 1:54 pm By JD Alois  |  

Le Conseil d’etat announced this past week that French authorities have decided to dramatically drop the tax on cryptocurrency from 45% to 19%. While still considerable, this represents an important step by the French government in seeking to be more innovation friendly. The change in taxation was… Read More

April 26, 2018 @ 3:46 pm By JD Alois  |  

iComply Investor Services has announced a new strategic partnership with Cointaxes, a platform for Canadian taxpayers to help manage their tax liability for crypto. The software has been available for US citizens for some time (tax day was April 15 in the States) but now… Read More

April 13, 2018 @ 4:41 pm By Cali Haan  |  

In mid-March, The Government of Australia published tax guidelines for citizens and businesses using cryptocurrencies to invest, make or receive payments. The document, “Tax treatment of cryptocurrencies,” is fairly readable and the compliance procedures outlined quite reasonable. In short: “Our view is that Bitcoin…is an… Read More

February 28, 2018 @ 10:13 am By JD Alois  |  

The Bundesminiserium der Finanzen in Germany (Federal Ministry of Finance) posted a notice yesterday regarding VAT tax treatment of Bitcoin and other virtual currencies. The document, in German, is embedded below.  In brief, the German government will not tax In brief, using Bitcoin as a… Read More

February 23, 2018 @ 4:52 pm By JD Alois  |  

Here is an interesting write up that should make cryptocurrency advocates happy. The Heritage Foundation, a leading policy think tank in Washington, DC, published a report at the end last year telling Congress and other public authorities they need to back off of Bitcoin and… Read More

February 13, 2018 @ 1:39 am By JD Alois  |  

In March of 2014, the Internal Revenue Service issued  an FAQ on digital currencies and the tax treatment of transactions in crypto like Bitcoin. In brief, the IRS said that virtual currency should be treated as property for U.S. federal tax purposes. “General tax principles that… Read More

February 4, 2018 @ 5:24 pm By JD Alois  |  

It is that time of year again. Tax time. The dreaded annual routine where you compile all of your state and federal tax forms into an envelope and shuffle it off to your accountant. Alternatively, you may use a tax software and do it yourself… Read More