In a bid to bolster tax compliance, the Australian Taxation Office (ATO) has set its sights on the burgeoning cryptocurrency market. The ATO recently announced plans to gather personal and transaction data from approximately 1.2 million users of cryptocurrency exchanges, aiming to identify individuals who may have evaded their tax obligations related to crypto trades. […]
Japan is set to overhaul its tax regulations for corporations holding third-party cryptocurrencies, a development reported by local media. The newly approved tax regime, greenlit by the cabinet on Friday, aims to incentivize long-term investments in crypto assets and provide a supportive environment for the growth of Web3 businesses. Under the existing system, corporations face […]
The Australian Taxation Office (ATO) has clarified its stance on the tax treatment of crypto assets, signaling potential challenges for users of decentralized finance (DeFi) protocols. The ATO now asserts that the capital gains tax (CGT) applies to any exchange of crypto assets, even if they are not traded for fiat currency. The ATO specifies […]
The Esya Centre, a prominent technology policy think tank based in New Delhi, has shed light on the unintended consequences of India’s crypto tax policies, which include a 30% tax on profits and a 1% tax deducted at source (TDS) on all transactions. According to their study titled “Impact Assessment of Tax Deducted at Source […]
The world of cryptocurrencies has brought exciting investment opportunities to the forefront, but it’s essential to recognize that these digital assets come with tax responsibilities. Here, we will explore the intricacies of cryptocurrency taxation in the United States, shedding light on what’s taxable and what’s not across a broad spectrum of crypto transactions. Cryptocurrency Taxation […]
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Technical indicatorsMajor Resistance Levels – $0.12 and $0.14Major Support Levels – $0.06 and $0.04 Dogecoin (DOGE) Price Long-term Prediction: BullishDogecoin (DOGE) price is bouncing below the resistance level as it faces stiff rejection at $0.085. On July 25, the current resistance level was retested and rejected. Buyers have been struggling to break through the resistance […]
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Technical indicatorsMajor Resistance Levels – $0.12 and $0.14Major Support Levels – $0.06 and $0.04 Dogecoin (DOGE) Price Long-term Prediction: BearishDogecoin’s (DOGE) downward trend has eased as it attempts a reversal above $0.069. But over the past month, the price of the altcoin has been ranging between $0.070 and $0.075 levels. Bulls and bears, on the […]
Legally speaking, digital assets are taxable, according to the IRS. If you don’t report cryptocurrency on your year-end taxes, the IRS will probably scrutinize your tax returns. Criminal prosecution for this offense could result in a fine of up to $250,000 or five years in jail in the US. As a third-party aggregator for data […]
The rules governing the disclosure of and taxation of digital assets appear to be expanding and becoming more stringent in Rome. The adjustment is most likely to occur in conjunction with Italy’s 2023 budget, which is anticipated to target gains from cryptocurrency trading and wealth. According to Bloomberg, a proposal in the budget by the […]
