Category: capital gains

Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face […]

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Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency transactions. Tax Office […]

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Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

Hungary to Cut Tax on Crypto Profits in Half, Down to 15%

The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary […]

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Indonesia plans to tax crypto profits

Indonesia, Southeast Asia’s biggest economy, plans to tax profits on cryptocurrency trades. The plan is still at the discussion stage, Neilmaldrin Noor, a spokesman at Indonesia’s tax office, told Reuters on Tuesday. The office is considering levying income tax on crypto profits. “It is important to know that… if there is a profit or capital […]

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Joe Biden’s Proposal to Double Capital Gains Tax Rate Shakes Financial Markets

The Biden administration has revealed plans to raise taxes on investors who are millionaires according to a flurry of recent reports. President Joe Biden wants to overhaul the U.S. economy in order to help fund American childcare and education. Biden’s proposal will almost double the current capital gains tax rate from 20% to 39.6%, and […]

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Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike

Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike

The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the […]

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