Articles of tax

US Congress Holds Blockchain Hearing, Participating Companies Outspoken: Crypto Tax Is A "Nightmare"

Source: CointelegraphChina At a U.S. Congress meeting entitled "The Cornerstone of Change: The Benefits of Blockchain Technology for Small Businesses," a witness to the conference said that the current cryptocurrency tax plan is too complex and unacceptable. Marvin Ammori, a member of the General Council of the Protocol Labs, responded to a question from Congressman […]

Announcement on the implementation of blockchain electronic ordinary invoices by the State Administration of Taxation

Source: Beijing Municipal Taxation Bureau On March 2, the Beijing Municipal Taxation Bureau of the State Administration of Taxation issued an announcement on the implementation of blockchain electronic ordinary invoices. The full text is as follows: In order to reduce the taxpayer's operating costs, save social resources, facilitate consumers to save and use invoices, and […]

New Zealand: IRD proposes to waive taxes on some cryptocurrencies to boost industry development

Source: CointelegraphChina The New Zealand Inland Revenue Authority has made new recommendations on the GST policy related to cryptocurrencies and is seeking public feedback on the issue. On February 24, the New Zealand Inland Revenue Department (IRD) released a document containing recommendations on improving and simplifying tax invoice requirements and excluding cryptocurrencies from specific GST […]

Comment: IRS doesn't consider Bitcoin as a virtual currency at all

Source: Cointelegraph Chinese Author: Andrey Shevchenko Compile: Bowie The Internal Revenue Service (IRS) has removed claims on its website that it uses game currencies as examples of convertible virtual currencies. This clarification is important because the new tax declaration requires taxpayers to report whether they are involved in virtual currencies. On February 13, Bloomberg Tax […]

IRS: Cryptocurrency transactions do not report taxes or will pay a high price, tax evaders may face fines of up to $ 250,000

Text: Robert W. Wood Compile: L Source: Cointelegraph Chinese Editor's note: The original title was "Cryptocurrency Failure to Report Taxes May Pay Expensive and Even Criminal Penalties" The Internal Revenue Service has realized that millions of cryptocurrency transactions may still not be taxed. Taxpayers may feel that they will not be arrested, and many Coinbase […]

8 Questions | Luo Mei, Tsinghua University: The most knowledgeable person in the field of accounting, the most knowledgeable person in the field of blockchain

Professor Luo Mei is a doctoral tutor of the Department of Accounting of the School of Economics and Management of Tsinghua University and the director of the Tsinghua Economic Management Digital Financial Asset Research Center. Accounting and auditing issues. In 2018, Professor Luo Mei published a working paper "Accounting Measurement of Crypto Digital Currency" , […]

Interview with Babbitt | Luo Mei, Tsinghua University: Digital currency accounting and tax system is the infrastructure for blockchain to promote industrial upgrading

American politician Benjamin Franklin once said, "In this world, nothing is certain except death and taxes." With the blockchain ecosystem, bitcoin and other digital currencies are carrying more and more functions such as transactions and stored value. How to measure digital currencies in financial statements and how to pay taxes have already become international and […]

U.K. updates crypto tax guide, highlighting Bitcoin as neither currency nor securities

Author Liang CHE Source: Than push, More than news, the UK tax authority has issued tax guidance for businesses to supplement its previous guidance for individuals. The guide clarifies the status of capital gains tax, corporate tax, national insurance, income tax and other taxes. The HMRC states that it generally does not consider cryptocurrencies […]

IRS strikes again, a storm caused by BTC capital gains tax

Interpretation Today Recently, US District Court Judge John Coughenour heard a petition filed by Washington resident William Zietzke, which requested the IRS to stop collecting data on its BTC holdings from the exchange Bitstamp. This case has caused widespread discussion, because investors are more concerned about whether crypto token users have financial privacy rights and […]

Bloomberg: The US Taxation Authority has identified dozens of encrypted tax evasion and cybercriminals

By Xiu MU This article comes from pushing According to Bloomberg News, the criminal department of the US Internal Revenue Service (IRS) met with tax authorities in four other countries this week, saying it has identified "tens of" potential encrypted tax evasion and cybercriminals. According to the report, members of the Global Tax Law […]