Important information: This is a sponsored story. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice. Tax rules can change and the value of […]

As reported by The Business Times, Singapore Finance Minister Lawrence Wong announced on March 11 that NFT owners in Singapore will start paying taxes on their investments. Income tax treatment will be determined based on the nature and use cases of the NFT. The announcement comes on the heels of recent tax measures that many [...]

The post NFT Taxation Comes to Singapore appeared first on Blockonomi.

Singapore Finance Minister Lawrence Wong announced that the country’s income tax rule also extends to income from all forms of non-fungible token (NFT) transactions. It [...]

A new PwC report says NFTs are the future of digital assets in sports as they can fundamentally alter how fans consume sports and interact with their favorite teams so let’s find out more in today’s latest crypto news. Nonfungible tokens or NFTs and digital assets are one of the ten major trends in the […]

The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thailand. Thailand Adopts New Tax Rules for Crypto Investments Thailand’s Cabinet approved new tax relief rules Tuesday for crypto trading, according to an…

The post Thailand Approves Tax Relief Measures for Crypto Trading appeared first on Bitcoin News Miner.

The post These 5 Platforms Will Help You Conveniently Manage Your Crypto Portfolio appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

As mainstream interest in cryptocurrency grows, it becomes essential for users to manage their portfolios well. Even when investing in a handful of currencies, keeping tabs on their price-performance remains critical. Several platforms and tools make it easier to do so, although they have different approaches to achieving this goal. CoinStats  Having access to your …

Current income tax rules in Singapore will apply to transactions involving non-fungible tokens (NFTs), Finance Minister Lawrence Wong reportedly said on Friday. But their application will depend on the nature and use of the token. Specifically, individuals who depend on NFT transactions or trading as a source of income will be subject to deductions, The

The post Singapore To Charge Income Tax On NFTs, Says Minister appeared first on CoinGape.

Important information: This is a sponsored story. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice. Tax rules can change and the value of […]

Nischal Shetty, founder and CEO of the popular Indian crypto exchange WazirX, has appealed to the government to re-examine the proposed crypto tax law to build a favorable crypto ecosystem in the country. Does India’s Crypto Tax Need More Work? In a recent Twitter thread posted today, the CEO of WazirX, Nischal Shetty has appealed to the Indian government on implementing favorable laws for the next generation of crypto enthusiasts who are building and contributing to the upcoming blockchain and cryptocurrency ecosystem. Shetty believes that the proposed crypto tax should be at par with India’s highest population between the ages of 18-25 who are into crypto but not under the taxable income bracket. Concerning the TDS, Nischal feels that a 1% slab will make it virtually impossible for day traders, or high-frequency traders as investors could get their entire capital locked in it if they trade for only a few hundred times. Government has also extra work of refunding all such TDS as well, according to him. The WazirX Boss further pointed out the latest tax rules could even encourage “brain drain” as the lack of clarity makes it difficult for law enforcement as well as entrepreneurs to function effectively. Day 32 India needs to implement favourable laws for Crypto entrepreneurs & investors We risk losing #BUIDL talent & future gains from Crypto Issues: 1) 30% income tax irrespective of income slab2) 1% TDS on every trade 3) No clarity for crypto entrepreneurs#BuildForCrypto — Nischal (Shardeum) ⚡️ (@NischalShetty) March 5, 2022 30% Crypto Tax Bracket Highest in the Country Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a crypto tax proposal of 30% on gains made from crypto tradings from April 1. The proposal also includes a 1% tax deducted at source (TDS) by crypto exchanges on transactions above 10,000 Indian rupees ($133). Reportedly, the 30% crypto tax bracket is the highest in the country and nearly double the corporate tax rate of 16%. The announcement saw a mixed reaction from the Indian crypto community with some calling it a welcome step towards recognizing the unregulated crypto market, while others called it regressive.

The post Nischal Shetty Appeals Indian Govt to Rethink Proposed Crypto Tax appeared first on Cryptoknowmics-Crypto News and Media Platform.

"Persons who are just validating transactions through a consensus mechanism are not likely to know whether a transaction is part of a sale," according to the Treasury.

The post US Treasury reiterates that the IRS won’t consider crypto miners, stakers or coders to be brokers appeared first on The Block.