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Report: Denmark’s Tax Agency Is Sending Tax Compliance Letters to Crypto Users

News Denmark-based cryptocurrency users have begun receiving letters from the Danish tax agency, Skattestyrelsen (Skat), requesting that traders provide a full background of all their cryptocurrency transactions, sources informed Cointelegraph on Dec. 10. In its letters, Skat specifically asked cr..

Accounting Advisor and Crypto Startup to Jointly Launch Crypto Tax Tool

News Accounting advisor CPA.com and cryptocurrency accounting automation startup Lukka partnered to jointly launch a crypto asset tax preparation tool. CPA.com announced the partnership with Lukka in a press release published on Dec. 9. Per the release, the “LukkaTax for Professionals” crypto asse..

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

News The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean..

Brazil’s Tax Authority Fines Those Who Fail to Declare Bitcoin and Crypto

News Brazil's tax agency, the Department of Federal Revenue (RFB), published a new tax code that specifies fines for taxpayers who fail to declare their Bitcoin (BTC) and cryptocurrency transactions. On Dec. 6, Cointelegraph Brasil reported that the new crypto tax code is a further follow-up ..

Kazakhstan Won’t Tax Cryptocurrency Mining: Report

News Kazakhstan’s lawmakers won’t be taxing cryptocurrency mining until the mined crypto is exchanged for fiat money. According to a legislative analyst at a local blockchain association, cryptocurrency mining will not be treated as entrepreneurial activity but rather a “purely technological progr..

If Bitcoin Price Drops — an Opportunity for Crypto Tax Planning

Expert Take After many countries around the world such as the United States, the United Kingdom, France, and Portugal published their own cryptocurrency tax guidelines this year, it is only reasonable they will expect to see an increase in crypto tax filing. They may even follow suit with the U.S...

4 Possible Reasons Bitcoin Dropped to $6.5K, According to VanEck Exec

News Bitcoin (BTC) price’s decline has come as a result of geopolitical and financial factors, a senior investment executive has suggested. In a tweet on Nov. 25, Gabor Gurbacs, digital asset director at investment management giant VanEck, highlighted several causes which, he says, “may” have for..

Missouri Firm Launches New Software For Reporting Crypto Taxes

News Missouri-based software maker CryptoTrader.Tax has launched a new product facilitating cryptocurrency tax reporting. As the 2019 tax year comes to an end, the software is designed to help firms, certified public accountants and professionals counsel their clients about reporting their taxes f..

Thailand Introduces Blockchain-Based Tax Refunds for Oil Exporters

News The Excise Department in Thailand is poised to introduce a new way of refunding overpaid taxes to oil exporters by using blockchain technology. On Nov. 25, director-general Patchara Anuntasilpa told the Bangkok Post that the Thailand Excise Department will change its current tax refund practi..

US Deputy Treasury Secretary: Crypto Raises Questions on Self-Government

News The United States Deputy Treasury Secretary argued that decentralized privately-issued digital currencies can shift some functions from the state to the private sector. Deputy Secretary of the Treasury Justin Muzinich presented his view on the emerging ecosystem of financial intermediation an..

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