Moore Markhams New Zealand’s Post

One of the asset classes the IRD are focusing on is cryptocurrency held by NZ tax residents. The IRD view cryptocurrency the same as gold, being the asset is purchased solely for price speculation. They consider the sale of cryptocurrency for cash or trade for another cryptocurrency a taxable gain (or loss if that is the case). If you need advice on the tax position of your cryptocurrency please get in touch, before the IRD do…

Hot on the heels of Inland Revenue NZ's focus on the construction sector, IR have announced that they will looking more closely at taxpayers selling, trading or exchanging cryptoassets. Late last year IR wrote to a group of high-risk customers and gave them the chance to fix any non-compliance issues before facing audit. Additional letters have just been sent out to more high-risk customers. As always, if this is an area that might be concerning you, reach out for advice. #incometax #nztax #cryptocurrency https://lnkd.in/ggySi2gz.

South Korean city threatens to sell crypto of tax debtors #crypto #cryptonews #web3legal #cryptoregulation #cryptolegal #Regtech #BlockchainRegulation #DigitalAssets #Cryptocurrency #RegulatoryCompliance #FinTech #CryptoIndustry #KryptoRegulierung #BlockchainRegulierung #DigitaleAssets #Kryptowährung #RegulatorischeCompliance #FinTech #Kryptoindustrie

Italy's financial maneuver and the increase of crypto taxes. 📰 The Italian government is taking its time to make decisions on the financial maneuver and the increase of taxes on cryptocurrencies. The process is slow and has been delayed multiple times. 🔍 The delay in making decisions has caused uncertainty among taxpayers and crypto investors. They are unsure about how the regulations will affect them and their financial situation. 📈 The increase in crypto taxes is a contentious issue, with some arguing that it will hinder innovation and growth in the crypto sector. Others believe that it is necessary to ensure that taxes are paid fairly. 🔒 The government is also considering introducing stricter regulations on cryptocurrency exchanges to prevent money laundering and other illegal activities. This move is aimed at improving

Watch out for cryptocurrency scams! From Bitcoin ATM tricks and blackmailing schemes to convincing get-rich-quick promises, TNS' robocall protection team has the insights. Check out our Scam of the Month page to learn more and share this post to help protect subscribers: https://bit.ly/46JZhJJ #Cryptocurrency #Bitcoin #Scams #Robocalls

The CRA is giving themselves new powers to tax cryptocurrency transactions. Most of the provisions aren't entirely unreasonable, as your broker or advisors already have to provide this information for your fiat transactions. Some provisions a little less so. The most surprising was the attack on the industry and suggestion that crypto is harmful to the middle class: "Just as crypto-assets pose financial risks to middle-class Canadians, the rapid growth of crypto-asset markets poses significant risks of tax evasion". There's no doubt that a faster moving value transfer mechanism could enable tax evasion. However, a risk to the middle class is a little confusing. Personal opinion is ever increasing fiat money supply, followed by the massive inflation the middle class is experiencing now, is likely a bigger risk to the middle class than completely trackable, traceable and transparent on-chain cryptocurrency transactions. Roger Zhou, CPA thanks for the share! #cryptocurrency #crypto #bitcoin #CRA #taxes #canada

Four key areas are set to come under the Australian Taxation Office’s microscope this tax season: record-keeping, work-related expenses, rental property income and deductions, and capital gains from cryptocurrency assets, property and shares. Make sure you're across these tax time tips. #ATO #WorkRelatedExpenses #BusinessTaxDeductions #TaxRecords #CapitalGainsTax #AssetWashSales https://lnkd.in/gBm8Nipg

Digital Currency Final Regulations: Broad Overview | Cryptocurrency Tax Attorney https://is.gd/mONknh #digitalcurrencyfinalregulations #broadoverview #cryptocurrencytaxattorney

Making payments with virtual currency has emboldened taxpayers to move money offshore, purchase illegal goods and services, and carry out other nefarious activities. Users may feel there is the possibility of avoiding tax reporting obligations. The Treasury Inspector General For Tax Administration (TIGTA) recently investigated virtual currency tax compliance enforcement by the IRS and released its findings in a report dated July 10, 2024. More on the report and its key finding and recommendations from Douglas Charnas: https://lnkd.in/gA-adzaX #tax #cryptocurrency #virtualcurrency #TIGTA #IRS