Taxation of Crypto Assets

Taxation of Crypto Assets
Author: Niklas Schmidt
Publisher: Kluwer Law International B.V.
Total Pages: 677
Release: 2020-11-27
Genre: Law
ISBN: 9403523514

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.

Cryptocurrency taxation

Cryptocurrency taxation
Author: Renan Do Nascimento Couto
Publisher: Editora Letramento
Total Pages: 191
Release: 2024-06-13
Genre: Law
ISBN: 6559324990

O livro tem como elemento central a análise de fatos geradores tributários decorrentes do uso de criptomoedas como ativos de pagamentos (principalmente) e investimentos (residualmente). A premissa perpassa pela necessidade de se descobrir quais as pessoas operam as criptomoedas, uma vez que a chave pública não identifica o CPF ou CNPJ do usuário. A falta de reconhecimento entre a pessoa física e o algoritmo que compõe a chave pública permite a circulação de riqueza sem a respectiva tributação. Desse modo, o presente livro pretende responder às seguintes indagações: como lidar com a circulação de riquezas quando o ativo transferível, por chave pública, não propicia a identificação do registro da pessoa? E, após identificar, como deve ser feita a tributação? Para responder a essas perguntas, inicialmente, defende-se a necessidade de o Estado promover uma regulação de incentivos para potencializar que as criptomoedas circulem, primordialmente, dentro das Exchanges. Em seguida, analisa-se a natureza jurídica desses ativos e os principais fatos geradores tributários que podem incidir no caso concreto. Observa-se que, muito além do Imposto de Renda por ganho de capital decorrente do cash out, há outras possibilidades de incidência de tributo, inclusive, por auferimento de renda no pagamento de uma obrigação em criptomoedas (Imposto de Renda em razão do plus jurídico). Para além dessa hipótese, há ganhos na custódia, aproximação entre clientes e troca dos ativos por moeda fiat, o que faz incidir, também, o Imposto de Renda das Exchanges e o Imposto sobre a Prestação de Serviços. Tais hipóteses são apenas algumas relatadas ao longo deste trabalho.

Blockchain Economics and Financial Market Innovation

Blockchain Economics and Financial Market Innovation
Author: Umit Hacioglu
Publisher: Springer Nature
Total Pages: 568
Release: 2019-12-03
Genre: Business & Economics
ISBN: 3030252752

This book discusses various aspects of blockchains in economic systems and investment strategies in crypto markets. It first addresses the topic from a conceptual and theoretical point of view, and then analyzes it from an assessment and investment angle. Further, it examines the opportunities and limitations of the taxation of crypto currency, as well as the political implications, such as regulation of speculation with crypto currencies. The book is intended for academicians and students in the fields of economics and finance.

Bitcoin Tax Havens

Bitcoin Tax Havens
Author: Jean Franco Fernández Clark
Publisher: Jean Franco Fernández Clark
Total Pages: 33
Release: 2021-06-19
Genre: Law
ISBN:

Most crypto generate Capital Gains Tax when sold. Tax havens can help you reduce, legally, yBitcoin or any other cryptocurrency increase in value is considered, in general, capital gain. Any offshore tax planning in order to optimize the crypto tax bill shall be pursuant and respectful of international tax laws as for any other type of asset tax planning, having in mind the particularities of this new assets, banking restrictions, and value fluctuation. The Capital Gain Tax Base is the difference between the value you acquired the asset, and the selling price. Any country or jurisdiction that does not tax capital gains, or has a territorial tax system, can be considered a crypto tax haven. Some jurisdiction tax capital gains but specifically exclude crypto earnings from taxation. Real Estate Property Capital Gain is usually levied in the country where it is located, so even if you move your tax residency, you might be withheld tax on those capital gains when triggered. One of the benefits of Crypto is that, different from Real Estate, is not an immovable property, so you can implement certain tax strategies to optimize your tax earnings when you cash out, like moving the crypto to another entity, or moving your residency. Finally, there are other types of bitcoin “offshore jurisdictions” or “tax havens” where the benefit is not just taxes, but the ability to launch an ICO or Crypto Exchange, with fewer regulations in comparison to other jurisdictions. our tax base. The information contained in this book comes from personal experience only and the author’s personal point of view, and it, in any way, shall not constitute legal, tax, or financial advice. You must get the advice from a license attorney, accountant, or financial services provider. This short book will cover, in a general manner: -What to be aware of in regards to crypto taxation, including capital gains, exit tax, changing your tax residency, and more. -Banks Common Reporting Standards and why most banks are reluctant to working with crypto businesess. -Crypto friendly jurisdictions that don't tax crypto gains and / or capital gains in general, including how to buy a second passport or get express permanent visa, where to open an offshore bank account that won't block crypto transaction conversion to fiat. - A simple yet effective offshore structure with a bank account that will allow you to trade bitcoin tax free. -Nominee Shareholders The content herein won't make you a tax expert, but will give you an insight before you engage a licensed lawyer Content Quality Disclaimer: Please note that the content in this book will not make you an expert. It addresses superficially generalities in regards to crypto taxation and how to optimize your taxes. In order to get an specific Price justification: International Tax Counseling usually starts at 100$ per hour, and can get up to four figures hourly rate or more. Hence, the price of this book matches its content. About the Author: International Tax Lawyer. Speaks English, Spanish, French, Italian, Russian.

Taxing Cryptocurrencies

Taxing Cryptocurrencies
Author: Katherine Baer
Publisher: International Monetary Fund
Total Pages: 35
Release: 2023-07-05
Genre:
ISBN:

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.

Regulation of Cryptocurrencies and Blockchain Technologies

Regulation of Cryptocurrencies and Blockchain Technologies
Author: Rosario Girasa
Publisher: Springer
Total Pages: 285
Release: 2018-06-29
Genre: Business & Economics
ISBN: 3319785095

The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments.

Bloomsbury Professional Tax Insight - Cryptocurrency and Blockchain

Bloomsbury Professional Tax Insight - Cryptocurrency and Blockchain
Author: Ben Symons
Publisher: Bloomsbury Professional
Total Pages: 64
Release: 2020-01-09
Genre: Business & Economics
ISBN: 9781526512611

Developments in the world of blockchain and crypto-currency move fast and much has changed since HMRC's original guidance on the subject of crypto currency published in 2014. In that original guidance there was a suggestion that dealing in crypto-currency was so risky that it could be compared to gambling and therefore outside the scope of taxation. However, the revised guidance issued in December 2018 has definitely moved away from that stance and individuals holding or intending to hold crypto-currency and their advisors need to be aware of the current taxation rules. Further guidance from HMRC on the tax treatment of crypto-assets for businesss and companies is expected soon. This book provides a background to the development of bitcoin and the application of blockchain technology and then looks at the income tax, capital gains tax and IHT treatment of any crypto-currency. Worked examples and flowcharts/diagrams will be used where relevant to illustrate key concepts. Crypto-currencies are increasingly being used globally and are more regulated in some territories. The bulletin will also deal with non-resident investors, and offshore crypto-currency funds and tax avoidance.

Cryptocurrency for Dummies... and Smarties with a Sense of Humor

Cryptocurrency for Dummies... and Smarties with a Sense of Humor
Author: Shu Chen Hou
Publisher: KOKOSHUNGSAN®
Total Pages: 76
Release:
Genre: Business & Economics
ISBN:

Introducing "Cryptocurrency for Dummies... and Smarties with a Sense of Humor" - The Ultimate Guide to Understanding and Enjoying the Crypto World! Are you intrigued by the world of cryptocurrencies but feel overwhelmed by the technical jargon and complex concepts? Look no further! This book is your ticket to unlocking the mysteries of cryptocurrency with simplicity, intelligence, and a big dose of humor. Written for both beginners and seasoned enthusiasts, "Cryptocurrency for Dummies... and Smarties with a Sense of Humor" is not your ordinary guide. We take you on a hilarious journey through the exciting realm of cryptocurrencies, making learning a fun and enjoyable experience. No more boring, dry explanations - we've spiced it up with humor to keep you entertained from start to finish! What sets this book apart is its unique approach of combining simplicity and intelligence. We break down complex concepts into bite-sized, easy-to-understand explanations that even a technophobe can grasp. Whether you're a complete novice or someone who wants to deepen their knowledge, you'll find practical insights and engaging stories that demystify cryptocurrencies. But wait, there's more! We've added a twist of humor to every page, making learning about cryptocurrencies an absolute delight. Get ready to laugh out loud as we explore hilarious stories of crypto mishaps, epic security fails, and even speculate on some outrageous possibilities. Who said finance couldn't be fun? In "Cryptocurrency for Dummies... and Smarties with a Sense of Humor," you'll discover: Simple explanations of what cryptocurrencies are and how they work, without the confusing technical jargon. Engaging stories of the crypto world's history, from the humble beginnings of Bitcoin to the rise of altcoins and the infamous “sh*tcoins." Tips and tricks for choosing the right wallet and navigating cryptocurrency exchanges like a pro. Hilarious tales of market madness, FOMO (Fear of Missing Out), and meme-worthy moments in the crypto space. Expert advice on managing risks, avoiding common pitfalls, and keeping your cryptocurrency holdings secure. An exploration of the broader applications of blockchain technology beyond just cryptocurrency, including finance, supply chain, healthcare, and more. And much, much more, all served up with a side of laughter! So, whether you're a beginner looking to dip your toes into the world of cryptocurrencies or a seasoned pro seeking a fresh perspective, "Cryptocurrency for Dummies... and Smarties with a Sense of Humor" is the guide you've been waiting for. It's a rollercoaster ride of knowledge, wit, and laughter that will leave you informed, entertained, and ready to embrace the exciting world of cryptocurrencies. Don't miss out on this unique opportunity to master cryptocurrencies while having a great time along the way. Grab your copy of "Cryptocurrency for Dummies... and Smarties with a Sense of Humor" now and join the ranks of the crypto-savvy with a smile on your face!

Crypto Millionaire: How to Invest in Cryptocurrency and Build Wealth

Crypto Millionaire: How to Invest in Cryptocurrency and Build Wealth
Author: Shu Chen Hou
Publisher: KOKOSHUNGSAN®
Total Pages: 143
Release:
Genre: Business & Economics
ISBN:

Unlock the Secrets to Cryptocurrency Wealth! Are you ready to embark on a journey into the world of digital riches? "Crypto Millionaire: How to Invest in Cryptocurrency and Build Wealth" is your indispensable guide to mastering the art of cryptocurrency investment and unlocking the doors to financial prosperity. Cryptocurrency has reshaped the way we perceive and handle money. It's a realm where fortunes are made, and the potential for financial growth knows no bounds. Whether you're a seasoned investor or a curious newcomer, this book will equip you with the knowledge and strategies to succeed in the ever-evolving world of cryptocurrencies. What's Inside: Comprehensive Guidance: Discover the fundamental principles of cryptocurrency, how it works, and the steps to get started. From choosing the right exchange to safeguarding your assets, we've got you covered. Strategies for Success: Learn the art of crypto investing, from long-term HODLing to taking advantage of market volatility. Real-life examples of crypto millionaires provide inspiration and insights. Risk Mitigation: Unearth the potential challenges and pitfalls of the crypto world and discover how to navigate them with confidence. We'll show you how to avoid common mistakes and keep your investments secure. The Future of Finance: Explore the transformative power of blockchain technology and how it's disrupting traditional financial systems. Dive into the world of DeFi and central bank digital currencies. Ethical Considerations: Delve into the ethical aspects of cryptocurrency, from its environmental impact to its potential for promoting financial inclusion and transparency. Staying Informed: The cryptocurrency world is ever-changing. Learn how to stay ahead with resources like news sites, podcasts, and conferences. Your path to financial freedom starts here. "Crypto Millionaire" is your trusted companion on the journey to wealth through cryptocurrency investment. Don't miss out on this opportunity to secure your financial future. Get your copy now and embrace the future of finance!