NFT tax-loss harvesting platforms witness a surge as the NFT market faces a downturn. Unsellable, Harvest.art, and others offer solutions, attracting users seeking to offset losses. The trend reflects a changing approach to tax strategies in the crypto space.
BerniceThe Japanese National Tax Agency (NTA) reveals an increase in crypto tax violations, with 548 cases identified out of 615 inquiries in the fiscal year 2022. Although the average undeclared income per case dropped to $206,000, the cumulative value rose to $126.5 million, prompting calls for tax system reforms in Japan amid criticisms of the current structure's impact on firms holding coins.
JixuIsrael's parliament, the Knesset, has given initial approval to a bill that seeks to extend tax benefits currently available to ...
BitcoinistThe IRS looks set to clamp down on tax evasion following a summons earlier this year and a $46 billion federal cash injection.
BeincryptoThe LUNC community has voted to reduce the tax burn rate from 1.2% to 0.2%.
BeincryptoLawmakers in a European country have drafted a 2023 budget that revealed a 28% tax on crypto assets held for under a year.
BeincryptoStaking is likely to become mainstream, which could prove rather costly for U.K. taxpayers.
BeincryptoThe Portuguese Minister of Finance had recently declared that cryptocurrencies in the country will soon be subject to capital gains taxes.
Cointelegraph"Pit-digging" NFT rights protection emerges in an endless stream
Ftftx“Remember, you can’t offset your crypto losses against your salary and wages,” said ATO assistant commissioner Tim Loh.
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