1 Overview of Malaysia’s Tax System – Malaysia’s Tax System Malaysia’s tax categories are divided into direct and indirect taxes. Direct taxes include income tax, real estate gains tax, and petroleum income tax, while indirect taxes include excise duty, customs duty, import and export duties, sales tax,...
1 Quick Overview of the New Rules On December 30, 2024, the Internal Revenue Service (IRS) under the U.S. Department of the Treasury released the Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales, finalizing tax reporting obligations for cryptocurrency sales and trading brokers...
As the crypto asset market matures, an increasing number of enterprises and individuals are engaging in transactions using crypto assets, and more investors are choosing to allocate crypto assets in their portfolios. However, due to the characteristics of crypto assets, such as significant price volatility, on-chain transaction anonymity, and...
Related News: On February 6, 2025, the President of the Czech Republic officially signed a bill aimed at advancing the country’s cryptocurrency tax reform. The core provisions of the bill stipulate that, starting from January 1, 2025, ordinary cryptocurrency holders will be exempt from capital gains tax when selling...
Every tax season, many U.S. residents who invest in cryptocurrencies find themselves stressed out: Do they need to pay taxes? How should they pay them? A small mistake could not only lead to fines but also trigger an audit by the IRS (Internal Revenue Service). Don’t worry! This article...
The U.S. tax season is around the corner! If you’re a U.S. taxpayer and engaged in cryptocurrency transactions over the past year, it’s crucial to accurately report your crypto income. FinTax highlights four commonly overlooked or mishandled types of crypto income to help you navigate the tax season with...
1. What is Cost Basis? Cost basis refers to the original price you paid when purchasing crypto assets, as well as any related fees. In other words, it represents the actual cost you incurred to acquire these crypto assets. For U.S. crypto asset investors, there are mainly two types...
Have you heard of the 1099-DA form? Are you worried about potential tax penalties for filling it out incorrectly? Don’t worry—this article will demystify the 1099-DA form and help you navigate tax filing with ease. 1. What Is the 1099-DA Form? The 1099-DA form is a tax reporting tool...
As the adoption of cryptocurrency grows, so does the complexity of reporting digital asset transactions for tax purposes. Whether you’re a casual investor or a business dealing heavily in crypto, accurately calculating and reporting taxes is crucial to avoid legal pitfalls. Crypto tax reporting software has become an essential...
As the cryptocurrency industry continues to grow, many businesses in Australia are exploring opportunities in this space. However, with the rapid growth of digital assets comes the need for clear and effective tax structuring. Understanding the tax obligations for cryptocurrency businesses in Australia is essential for compliance and optimizing...
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