Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals

The European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies across the bloc’s 27 jurisdictions. European Union to Consider […]

Portugal Prepares to Tax Crypto Gains at Rate of 28%, Draft Budget Unveils

Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government of Portugal Proposes New Tax for Cryptocurrency-Related Gains In the past […]

Indian Government Plans Indirect Tax On Crypto To Control Revenue Loss

The India’s Ministry of Finance has begun work on a comprehensive ‘Goods and Service Tax’ (GST) plan, which is reportedly shaping up to be an indirect tax on crypto assets, according to local Indian media. The purpose of considering an indirect tax on crypto is to act as a check against potential revenue loss to […]

Japan’s Financial Regulator Formally Proposes Crypto Tax Reduction

In a highly anticipated move, Japan’s financial regulator has proposed reducing taxes for crypto companies and individual investors, according to a recent Bloomberg report. Additionally, Japan’s Prime Minster Kishida is seeking to double the household wealth and support the country’s Web3-centered businesses. In a bid to improve its crypto tax system, Japan’s Financial Services Agency […]

Japan Considers Crypto Tax Reforms

Japan’s Financial Services Agency and the Ministry of Economy, Trade, and Industry are planning to review the corporate taxation method for crypto assets and virtual currencies that companies own for the purpose of nurturing newly established companies or startups, or emerging companies. According to local media reports, the aim of considering crypto tax reform is […]

IRS Expands Crypto Question on Tax Form

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

Japanese Lobbying Groups Demand Tax Reductions to Stop Crypto Talent from Leaving

Cryptocurrency lobbying groups in Japan reportedly intend to pressure lawmakers into easing taxation on cryptocurrency companies in order to nurture the local digital asset sector. Crypto Friendly Policies Can Stop the Brain Drain According to Bloomberg, The Japan Cryptoasset Business Association and the Japan Virtual and Crypto assets Exchange Association, two of the country’s top […]

The President Of The Philippines Plans To Tax Digital Services

After taking office one month ago, Philippine President Ferdinand Marcos Jr. called for the taxation of digital services in his speech to Congress. Analysts believe the mandate could affect cryptocurrency exchanges. The new President also pledged to invest in the country’s infrastructure, reduce debt related to impact of the COVID-19 pandemic, and to aim for […]

Indian Government Drives Crypto Exchanges to leave for Singapore and Dubai

Crypto businesses are reportedly leaving India due to regressive tax policies and unclear regulatory measures. They are shifting to crypto-friendlier countries – such as Singapore or UAE.  Reports suggest that close 30-50 crypto companies had to shut their operations and move out of India, including the most prominent players in the industry. Co-founders of India’s […]