Taxing Crypto-asset Transactions
Author: Shaun Parsons
Publisher:
Published: 2022
Total Pages: 0
ISBN-13: 9789087228040
DOWNLOAD EBOOK →Lanterna Rally
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Taxing Crypto-Asset Transactions
Taxation of Crypto Assets
Author: Niklas Schmidt
Publisher: Kluwer Law International B.V.
Published: 2020-11-27
Total Pages: 677
ISBN-13: 9403523514
DOWNLOAD EBOOK →The emergence of crypto assets has required taxation authorities worldwide to develop unprecedented policies and compelled tax lawyers to apply existing laws in new ways. This book – the only one to focus solely on the taxation of crypto assets – provides a detailed country-by-country analysis of how the tax law of thirty-nine countries may apply to this rapidly developing area, including different use cases and compliance and documentation requirements. Following an overview of the technology and key characteristics of crypto assets, as well as the key tax concepts and types of taxes that could apply to them, leading practitioners in each particular jurisdiction summarize the relevant tax law in that country. Fully explained are such aspects of crypto assets as the following and how they are interrelated: sales; exchanges; receipt as remuneration; forks; airdrops; mining; staking; initial coin offerings; security token offerings; and initial exchange offerings. Contributors describe how each jurisdiction applies income and capital gains taxation, value-added tax and sales tax, withholding taxes, transfer taxes, and gift, inheritance, estate and wealth taxes in the context of crypto assets. Reporting requirements and enforcement are also covered. Tax law, as it applies to crypto assets, is new and continues to evolve. This book will be welcomed as the premier resource for tax practitioners, government officials, advisors, investors, issuers, users of crypto assets, and taxation academics who are seeking informed awareness of the policy choices countries make in dealing with the taxation of this new technology. Tax lawyers dealing with crypto assets will have comprehensive practical guidance on how to comply with the tax laws of multiple jurisdictions.
Crypto Taxation in USA
Author: Prashant Thakur
Publisher: Prashant Kumar Thakur
Published: 2023-09-26
Total Pages: 127
ISBN-13:
DOWNLOAD EBOOK →"Crypto Taxation in USA " is a comprehensive book for everyone from crypto investors to tax professionals, offering a detailed overview of how the IRS taxes digital asset transactions when actual tax law that applies to digital assets are still to be enacted by Congress. Discover what constitutes a taxable event—from trading and staking to mining and even airdrops of cryptocurrencies. The guide also delves into hot topics like the taxation of NFT transactions and Initial Coin Offerings (ICOs)by blockchain companies. Stay current with the latest IRS guidelines, including new memos and revenue rulings updated for 2023. Whether you're a seasoned investor or a crypto newbie, this book equips you with the knowledge to make informed financial decisions in the ever-evolving world of cryptocurrency. Here are the list of topics covered : What is a cryptocurrency under US Tax law ? What are the taxable events for cryptocurrency transactions? How is gain or loss on the sale of crypto taxed? How IRS tax staking rewards ? Taxation of receipt of cryptos by airdrops. How IRS tax receipt of cryptos on hard-fork ? How is the gift of cryptocurrencies taxed ? How are cryptocurrencies rewarded on mining taxed? How is the swapping or exchange of cryptocurrencies taxed ? How is the payment of cryptocurrencies for goods or services creates taxable event? How do NFT transactions get taxed? What are the Reporting Requirements for Crypto transactions? Can you offset losses of crypto trades ? Can you claim diminution in value of cryptocurrency ? Can you argue “theft “ by the crypto exchange and claim loss under section 165 ? Whether exchanging cryptocurrencies qualify for like-kind exchange under section 1031 ? Is reporting of digital currency in a foreign account required? Claiming deduction for donating cryptocurrencies to charities . Is the rule of "backup withholding" applicable to payments through cryptocurrencies? How is the Initial Coin Offerings taxed ?
Basis of Assets
Author: United States. Internal Revenue Service
Publisher:
Published:
Total Pages: 12
ISBN-13:
DOWNLOAD EBOOK →Taxation, Virtual Currency and Blockchain
Author: Aleksandra Bal
Publisher: Kluwer Law International B.V.
Published: 2018-11-29
Total Pages: 314
ISBN-13: 9403501049
DOWNLOAD EBOOK →The emergence of convertible decentralized virtual currency schemes confronts tax authorities with unprecedented questions, among them are the status of virtual currency for tax purposes, which virtual transactions may bene?t from a VAT exemption and determining the most optimal method of tax regulation. This ?rst book-length treatment of this major current topic provides an in-depth and comprehensive analysis of the tax implications of virtual currency transactions. Seeking to ascertain whether virtual currency requires additional regulation or whether the law as it stands is adequate to administer its usage, the analysis not only thoroughly explains the nature of the underlying blockchain technology and its regulatory and judicial treatment so far but also identi?es best practices for virtual currency transactions and makes recommendations for the improvement of the existing tax systems. Among the aspects of the phenomenon covered are the following: – particular aspects of virtual currency use such as smart contracts and initial coin offerings; – comparative review of income tax consequences of virtual currency transactions in Germany, the Netherlands, the United Kingdom and the United States; – VAT/sales tax treatment of transactions involving virtual currency in the European Union and the United States; – methodology for creating an effective regulatory framework for the taxation of virtual currency; and – the future of blockchain. The book has three parts and an annex that describes tax regulations, administrative rulings and court decisions concerning virtual currency in twenty countries. In its in-depth analysis of tax implications of virtual currency transactions in major economies, detailed overview of recent tax developments that affect virtual currency transactions and evaluation of tax policies related to virtual currencies, this book has no peers. Especially in view of the OECD's examination of the tax challenges presented by the digital economy as part of its base erosion and pro?t shifting (BEPS) project, this clear and comprehensive explanation of the functioning of virtual currency and blockchain technology will be welcomed by tax administration of?cials and by persons mining and transacting in virtual currencies needing to know their compliance obligations.
Taxing Cryptocurrencies
Author: Katherine Baer
Publisher: International Monetary Fund
Published: 2023-07-05
Total Pages: 35
ISBN-13:
DOWNLOAD EBOOK →Policymakers are struggling to accommodate cryptocurrencies within tax systems not designed to handle them; this paper reviews the issues that arise. The greatest challenges are for implementation: crypto's quasi-anonymity is an inherent obstacle to third-party reporting. Design problems arise from cryptocurrencies' dual nature as investment assets and means of payment: more straightforward is a compelling case for corrective taxation of carbon-intensive mining. Ownership is highly concentrated at the top, but many crypto investors have only moderate incomes. The capital gains tax revenue at stake worldwide may be in the tens of billions of dollars, but the more profound risks may ultimately be for VAT/sales taxes.
Introduction to the Crypto-Taxation Framework Under the Personal Income Tax in Portugal
Author: Diogo Pereira Coelho
Publisher: Leya
Published: 2023-07-26
Total Pages: 146
ISBN-13: 9894013619
DOWNLOAD EBOOK →Over the last few years, the creation and reception of the blockchain technology, as well as operations related to crypto-assets, have resulted in numerous atypical and differentiated legal situations, including camouflaged complex financial legal situations that are identical to traditional securities. The purpose of this text is to introduce the tax framework for income from operations related to crypto-assets in Portugal (pre- and post-State Budget 2023) and, above all, to contribute to the understanding of a matter whose legal framework should, at the very least, be clear, precise, concrete and detailed, not least because of the high scrutiny and supervision that this type of activity entails or, at least, requires.
Cryptoasset Taxation
Author: Dion Seymour
Publisher: Bloomsbury Professional
Published: 2023-12-14
Total Pages: 0
ISBN-13: 1526527944
DOWNLOAD EBOOK →This publication provides clear and authoritative guidance on the tax issues surrounding crypto-assets in the United Kingdom. Crypto-assets are a type of digital asset. The most common examples are Bitcoin and Ethereum. HMRC do not consider crypto-assets to be money or that buying or selling crypto-assets is gambling. This means that, in HMRC's view, profits or gains from buying and selling crypto-assets are taxable. The author is Dion Seymour, a Crypto and Digital Assets Technical Assets Director at Anderson. He was formerly the crypto-asset policy and product owner at HMRC. As well as advisory work in this area, he also speaks regularly on this subject. This is an evolving area in the UK and globally. It can be challenging for advisors dealing with business and individual clients to keep up with the pace of technical developments and the tax implications. The book will help readers understand HMRC's view by providing clear and practical guidance on the technology (including clear definitions of the technical terms), and the tax impact, including relevant case law. The commentary will be enhanced by the inclusion of worked examples and illustrative flowcharts and diagrams. The book will also outline the compliance requirements including self assessment returns and penalties. The OECD regime will also be covered. This book will be an authoritative and valuable tool for any advisors looking ion to this area for the first time.
Crypto Taxes Made Happy
Author: Mario Costanz
Publisher:
Published: 2018-03-24
Total Pages: 180
ISBN-13: 9780999217559
DOWNLOAD EBOOK →Cryptocurrency is no longer just a fad, it is a way of life for many. Fortunes have been made and lost in this very volatile asset class. And when there are profits, there are taxes. With so much misinformation on the internet, this How-to Guide clears up the FUD around crypto tax preparation. For years, some traders thought their gains would be tax free, until the IRS successfully sued Coinbase. With information sharing now in full motion and expected to increase across additional worldwide exchanges, properly paying taxes on crypto trades is the safe way to go. Whether you are a someone new to crypto investing, been at it for a couple of years, an early adopter or even if you are a tax professional looking to get up to speed on an asset class that is not going away anytime soon, Crypto Taxes Made Happy is for you. In his detailed guide book, accomplished entrepreneur, author, inventor and CryptoTaxPrep.com founder Mario Costanz lays out an extensive roadmap to understanding all of the rules, requirements, intricacies and nuances of crypto tax preparation. You'll Learn: - How Cryptocurrency is treated by the IRS. - What is considered a taxable event, why, and what does it mean for your bottom-line. - What this means for crypto traders for 2017 tax returns and beyond.. - Strategies to legally minimize your tax liability and stay protected from the IRS. If you are serious about cryptocurrency, this comprehensive book is one that you NEED to own. Chapters Include: Earning Cryptocurrency Income Spending Or Lending Cryptocurrency Virtual Currency Investments Crypto Donations, Gifts & Inheritances Crypto IRA, 401k & Life Insurance Virtual Currency Losses Cryptocurrency Gambling Exchanging Virtual Currency Cryptocurrency Tax Reporting Foreign Asset Reporting Cryptocurrency Tax Enforcement
