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” Swiss city of Lugano to pay taxes in crypto via Tether partnership “ The city of Lugano, the economic capital of Italian-speaking southern Switzerland, is adopting cryptocurrencies for tax payments as part of a new collaboration with the provider of the Tether (USDT) stablecoin. Tether Operations Limited, the blockchain-based platform that powers USDT, the…
“# We are all going public: Privacy rules, tax shelters and the future history of art ” After a banner year of 2021 for individual object sales through nonfungible tokens (NFTs), 2022 is poised to be the year of MetaFi. A recap of Beeple, Christie’s, Visa and endless aping-in celebrities hardly feels necessary, except to…
“# Georgia lawmakers consider giving crypto miners tax exemptions in new bill ” Five members of the Georgia House of Representatives have introduced a bill that would exempt local crypto miners from paying sales and use tax. On Monday, Georgia Representatives Don Parsons, Todd Jones, Katie Dempsey, Heath Clark, and Kasey Carpenter introduced HB 1342,…
“# India’s crypto tax provides little legal clarity for traders and exchanges ” Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a tax proposal that would bring the relatively unregulated digital asset space under the purview of tax authorities. The proposal includes a 30% income tax on crypto returns and a 1% tax deducted…
“# Colorado governor says he expects state to accept tax payments in crypto by summer ” Jared Polis, the governor of Colorado, has announced that the state government plans to allow residents to pay taxes in cryptocurrencies as early as summer 2022. In a Tuesday CNBC interview, Polis said crypto holders in Colorado could have…
“# Portugal slowly becoming a ‘haven’ for European Bitcoiners ” While Switzerland holds the spotlight for being the most crypto-friendly jurisdiction in Europe, Portugal is picking up the pace. Indeed, the republic offers more than just quality of life improvements for Bitcoin (BTC) owners, including an attractive fiscal environment and a growing Bitcoiner community. Cointelegraph recently…
“#H&R Block software made ‘voluntarily contributions’ to NY pols: source” Doublecheck your New York state tax return, if you filed early with H&R Block. The $4 billion firm’s tax-prep software made “voluntarily contributions” on behalf of unsuspecting taxpayers to a new state fund that donates to political campaigns, a tax expert told The Post. The…
“# 3 things every NFT investor should know to avoid a tax nightmare ” 2021 will be remembered as the year of nonfungible tokens (NFTs). In a year where names like Beeple and Bored Ape Yacht Club dominated the headlines, it’s estimated that NFTs have generated more than $23 billion in trading volume. The rise…
“# US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200 ” A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is…
“# Crypto tax doesn’t legalize trading, says Indian tax department chief ” The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India. The finance minister of India announced a 30% tax on crypto…