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“# OECD tax director says international crypto tax standards are coming in 2021 ” Pascal Saint-Amans, the director of the OECD’s Centre for Tax Policy and Administration, has asserted that the 37-nation organization will introduce a common reporting standard, or CRS, for crypto assets in 2021. According to Law360, Amans stated that the crypto tax…
“# Russian prime minister proposes legal steps to bring order to crypto market ” Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market. At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for crypto holders in the country…
“# DoJ makes fintech giant sell Credit Karma’s tax wing to Square before $7.1B acquisition ” Per an announcement and series of filings on Wednesday, the U.S. Department of Justice is calling shenanigans on Intuit’s ambitions, at least in part. Intuit owns a stable of user-facing finance software, including budgeting app Mint, digital DIY tax software…
“# South Korean government to delay crypto tax rules by three months ” The South Korean National Assembly is planning to delay the implementation of new income tax laws on cryptocurrency gains following appeals from industry bodies. According to a Nov. 25 report on Korean-language news site DongA, the 20% tax, originally due to be…
“# Lithuanian tax service’s first confiscated crypto sale nets $7.6M ” The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies. The State Tax Inspectorate, or STI, the country’s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget….
“# Friendliest of them all? These could be the best countries for crypto ” As a burgeoning industry less than 13 years old, cryptocurrency has seen its fair share of regulatory crackdowns and changes, especially in the United States. Jake Yocom-Piatt, co-founder of Decred, however, sees the nation as the most crypto-friendly. “Cryptocurrencies are treated…
“#This ‘soak the rich’ tax would destroy New York, New Jersey economies” Lawmakers in New York and New Jersey just won’t be happy until they drive Wall Street firms clear out of the area, taking their jobs — and tax revenue — with them. Proposed stock-transfer taxes in both states have already prompted the New…
“#Deutsche Bank proposes tax on people working from home” White-collar staff reaping the financial benefits of working from home should be taxed to help other workers who aren’t getting the same advantages, experts at Deutsche Bank said in a new report. In its report on how to rebuild the economy after COVID-19, the bank proposed…
“#Swiss to ban deducting bribes from taxes starting in 2022” Swiss companies will no longer be able to deduct bribes paid to private individuals from their taxes, Switzerland’s government said Wednesday, according to an update of tax laws due to take effect on Jan. 1, 2022. Beyond bribes, costs from financing criminal activities or money…
“# U.S. law firm says IRS is coming after Coinbase users who evade taxes ” The Tax Law Office of David W. Klasing, a boutique California tax firm, has issued a public release warning investors that the United States Internal Revenue Service is getting serious with Coinbase users. The firm’s dual-licensed tax lawyers and capital…