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Detroit says the move to begin accepting crypto as payment for taxes and other city services was part of a broader effort to “modernize and improve” its payment channels. Go to Source
The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains. Go to Source
The Dutch government wants to align its data collection rules for crypto service providers with the rest of the EU, saying it would “create more transparency.” Go to Source
The Danish Tax Council has recommended what it terms non-backed crypto assets like Bitcoin be taxed similarly to asset-based crypto assets. The council argues the recommendations would allow crypto investors to deduct losses from gains thus making taxation more fair. However, some observers believe this amounts to a “declaration of war on crypto” as it … Read more
The Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection purposes. Beyond real-time taxation, Kenya is considering AI and machine learning to combat tax evasion. These technologies would improve … Read more
The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. The revenue collector urged taxpayers concerned about compliance to participate in the Voluntary Disclosure Program, but those already under … Read more
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS is seeking support from the Nigerian National Assembly to implement … Read more
Local crypto businesses pushed for a reduction in the 1% TDS to 0.01% to revive its customer base. Go to Source
If the new proposal is approved, implementing the crypto gains tax in the country will be delayed by nearly seven years from its original schedule. Go to Source
The Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they don’t properly file this tax season. Go to Source
