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Canada Revenue Agency Audits QuadrigaCX’s Corporate Tax Returns

News The Canada Revenue Agency (CRA), the country’s tax authority, is auditing the corporate tax returns filed by QuadrigaCX, the now-defunct Canadian cryptocurrency exchange. CRA’s request for documents and information is significantAccording to an article by the Globe and Mail on Sept. 16, Quad..

The IRS Is Blindly Coming After Cryptocurrency Traders — Here’s Why

Expert Take Over the past month, we have seen the IRS, the tax collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. Letters like the 6174-A, 6173 an..

France Won’t Tax Crypto-Only Trades, Will Tax Crypto-to-Fiat Sales

News French economy minister Bruno Le Maire said on Sept. 12 that French authorities won’t tax crypto-to-crypto trades, but will tax when cryptocurrencies are sold for fiat currency. Bloomberg Tax reported on Le Maire’s declarations on Sept. 12. Per the report he noted: “We believe that the moment..

US Politician Uses Crypto to Buy Cannabis for Tax Remittance Demo

News A Californian politician has become the first elected official to use cryptocurrency to purchase cannabis in the United States. A press release shared with Cointelegraph on Sept. 11 revealed that Berkely City Councilmember Ben Bartlett used Bitcoin Cash (BCH) and the stablecoin Universal Doll..

Iranian Crypto Miners Tax Exempt If They Repatriate Offshore Earnings

News Cryptocurrency miners in Iran will be eligible for a tax exemption if they agree to repatriate their overseas earnings, according to Iran's National Tax Administration (INTA). Per a report by local English-lanuage news daily Financial Tribune, INTA introduced a repatriation tax exemption..

IRS Expands Penalties: Which Tax Mistakes Are Better Not to Commit

Expert Take Willful and non-willful tax flubs are different. Taxes are complex, and innocent tax mistakes can often be forgiven — maybe with no penalty. Even if there is a penalty, non-willful is vastly lower than willful. In a criminal tax case, this fundamental dichotomy can mean the difference ..

Portugal Tax Authority: Bitcoin Trading and Payments Are Tax-Free

News Portugal’s Tax Authority has clarified that both cryptocurrency trading and payments in crypto will not be taxed in the country, Cointelegraph en Español reported on Aug. 27. According to a report published on Aug. 26 by Portuguese business newspaper Jornal de Negócios, the Portuguese Tax and..

Bitcoin More Efficient for Paying Taxes than Bank Cards, Says Exchange

News Evan Kuhn, the co-founder of Toronto-based cryptocurrency exchange Coinberry, has claimed Bitcoin (BTC) is more efficient for paying taxes than bank cards. As real estate news outlet Mansion Global reported on Aug. 22, Kuhn said his company takes much lower fees than the ones that card instit..

Judge Rejects Multimillion Dollar Asset Plea in Crypto Fraud Case

News A Supreme Court judge in British Columbia (BC), Canada, has denied a motion to set aside an asset freeze, which was requested by the defendants in a multimillion dollar cryptocurrency fraud case. The defendants had filed to set aside an interim preservation order that was issued by the Britis..

The Most Important Aspect of Bitcoin Is the Separation of Money and State

Many cryptocurrency supporters believe the technology allows for the separation of money and state in a manner that’s never been seen before. Governments inflict two forms of robbery against nonviolent citizens by forcing them to pay taxes while also stealing from them silently through inflation. No..

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