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Tax
The Indian government is considering a bitcoin transaction tax that would add $1 billion in revenue a year, a move some industry participants said is a sign of the government’s growing comfort with cryptocurrencies. A proposal put forward to the Central Board of Indirect Taxes & Customs (CBIC) by the Central Economic Intelligence Bureau (CEIB)...
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Cryptocurrency exchange Coinbase has decided to discontinue sending customers 1099-Ks, the U.S. tax form which led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains.  The exchange will instead use the 1099-MISC form, at least for customers who earn interest on lending and similar products, it said in a Tuesday blog...
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A Puerto Rico-based bank founded by gold bug and long-time bitcoin skeptic Peter Schiff is under investigation over suspicions it facilitated tax evasion for “high-risk” clients. According to reports on Saturday by several large media organizations in Australia and the U.S., Schiff’s Euro Pacific Bank has become the focus of a major global tax evasion...
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ABB, one of Switzerland’s most profitable companies, tried to avoid paying millions of dollars in taxes to Zimbabwe, the country’s tax authority said in court papers and other documents. The dispute between ABB and the Zimbabwe Revenue Authority (Zimra) centres on $13.4-million in payments allegedly owed to the country, which is in the middle of...
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A hacker has stolen data on more than 1,000 users from CryptoTrader.Tax, an online service used to calculate and file taxes on cryptocurrency trades. The hacker broke into a CryptoTrader.Tax marketing and customer service employee’s account on a support center platform, according to a source who came across the hacker on a dark web forum....
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