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Bitcoin Daily: S. Korea Eyes Crypto Capital Gains Tax; Crypto Lawyers See Rise In Demand

PYMNTS

South Korean crypto users might soon see 20 percent taxes on their currency, according to Cointelgraph. ” But Sung Tae-yoon , an economist with Yonsei University, warned that taxing cryptocurrencies could slow the country’s tech markets. Abra, which works by letting users bet on price movements of listed U.S.

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Avalara Unveils eInvoicing Software For Tax Compliance In India

PYMNTS

To assist companies in following Goods and Services Tax (GST) rules in India, Avalara, Inc. India, for its part, recently embarked on a digital invoice mandate effort, and the Central Board of Indirect Taxes and Custom (CBIC) brought about regulations that make businesses adopt eInvoices to cut down on GST evasion. 16) announcement.

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Aussie Tax Office Reminds SMBs To Pay Debt

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Small and medium-sized businesses (SMBs) in Australia are being reminded by the country’s tax office that owing money to the agency is not OK, Broker News reported Friday (Feb. The national business funder Scottish Pacific said in a press release Thursday (Feb.

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Bitcoin Daily: S Korea Eyes New Crypto Income Tax; Less Network Traffic Causes Drop In Bitcoin Fees

PYMNTS

South Korea is pondering a modification to its tax law which could place taxes on cryptocurrencies. Though not much information is currently available, the new rules could impose restrictions on profitable sales of cryptocurrency and revenues gleaned from national crypto-mining projects, according to Cointelegraph.

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Tax Reform Shows Early Signs Of SMB Bank Lending Impact

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tax reform led to much chatter and some confusion about exactly how changes would impact the nation’s small businesses (SMBs). Department of Treasury finalized rules that apply to SMBs on qualifying for a 20 percent tax deduction, with the National Federation of Independent Business (NFIB) applauding the initiative.

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Why Timing Is Everything On Tax Day

PYMNTS

Tax Day for Americans is here, or at least it will be on Tuesday, April 17. This year is a bit of an unusual year as far as taxes are concerned, since April 15 actually falls on a Sunday. Back then, taxes weren’t due on April 15. Tax season used to be a month and a half shorter.

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Bitcoin Daily: Gemini Creates Insurance Unit To Protect Against Crypto Theft; South Korea’s Bithumb Exchange To Fight Crypto Tax Bill

PYMNTS

In other news, South Korean cryptocurrency exchange Bithumb is going to court to fight an almost $69 million tax bill from the National Tax Service (NTS), according to a report Thursday (Jan. The tax is called a retention tax, which is an income tax paid to the government by the income payer and not its recipient.

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