Florida leads in U.S. crypto tax-friendliness due to no state income tax and supportive policies. New York ranks lowest with a 10.9% income tax and BitLicense. The IRS eases reporting rules, exempting businesses temporarily. Investors must grasp local tax nuances to avoid potential losses.
BerniceThe Japanese National Tax Agency (NTA) reveals an increase in crypto tax violations, with 548 cases identified out of 615 inquiries in the fiscal year 2022. Although the average undeclared income per case dropped to $206,000, the cumulative value rose to $126.5 million, prompting calls for tax system reforms in Japan amid criticisms of the current structure's impact on firms holding coins.
JixuIsrael's parliament, the Knesset, has given initial approval to a bill that seeks to extend tax benefits currently available to ...
BitcoinistThe hack prevents the medical institution from reporting to the country’s health insurance fund in order to receive due funding.
OthersRoughly 8.5% of the African country's population owns cryptocurrencies, according to a United Nations report.
OthersThe LUNC community has voted to reduce the tax burn rate from 1.2% to 0.2%.
BeincryptoLawmakers in a European country have drafted a 2023 budget that revealed a 28% tax on crypto assets held for under a year.
BeincryptoStaking is likely to become mainstream, which could prove rather costly for U.K. taxpayers.
BeincryptoBeincryptoThe Portuguese Minister of Finance had recently declared that cryptocurrencies in the country will soon be subject to capital gains taxes.
Cointelegraph