Tags : tax

Regulation

U.K. tax authorities freeze capital gains tax signaling short term

U.K. crypto investors braced themselves for significant changes in the treatment of Capital Gains Tax (CGT). But these fears were ill-founded as Chancellor Rishi Sunak delivered his budget just after noon today. The government opted to freeze thresholds for Income Tax, Inheritance Tax, Pensions Allowance, VAT registration, and Capital Gains Tax. While this is welcome […]Read More

Regulation

U.K. tax authorities eye crypto assets in up-and-coming budget

According to chartered accountants HillierHopkins, Her Majesty’s Revenue and Customs (HMRC) will target crypto investors in the up-and-coming budget on March 3. Principal at the firm Thomas Gibbs predicts this will take the form of a hike in Capital Gains Tax (CGT) from 20% to 40%. “HMRC sees cryptocurrencies not as a currency but as […]Read More

Bitcoin

Bill Gates explains why he associates Bitcoin with tax avoidance

Billionaire Microsoft co-founder Bill Gates said he doesn’t hold Bitcoin, nor is he short against it. Instead, Gates claims he holds a neutral position as far as the leading cryptocurrency is concerned. However, his follow-on comments contradict his opening statement. While he’s all for the digitization of money, he believes Bitcoin encourages tax avoidance and […]Read More

Market

Bitcoin ‘Underperforms’ During Tax Time: Analysis

January ushers in a new tax season. It is also, historically, a time when bitcoin underperforms relative to the other months of the year. Some analysts say that may not be a coincidence. From 2014 to 2020, bitcoin was down in four out of seven Januarys and six out of the past seven Marchs. According […]Read More

Market

India Mulls Imposing 18% Tax on Bitcoin Transactions

The Indian government is considering a bitcoin transaction tax that would add $1 billion in revenue a year, a move some industry participants said is a sign of the government’s growing comfort with cryptocurrencies. A proposal put forward to the Central Board of Indirect Taxes & Customs (CBIC) by the Central Economic Intelligence Bureau (CEIB) […]Read More

Regulation

US DoJ charges tax evading ICO superstar who spent $10m

The founder of a high-flying ICO was charged by authorities in the US yesterday on charges of a massive tax evasion scheme. DoJ charges Oyster Pearl founder Amir Bruno Elmaani, the founder of Oyster Pearl, a storied 2017 ICO that raised millions in token sales before fizzling out like 98% of all the then-hyped coins, […]Read More