Tag: Tax

UK Tax Authority: Cryptocurrencies Are Not Money
Blockchain, Business

UK Tax Authority: Cryptocurrencies Are Not Money

The United Kingdom’s (UK) tax, payments, and customs agency — Her Majesty’s Revenue and Customs (HMRC)— has updated its stance on digital asset taxation. Notably, cryptocurrencies will not be taxed as money, though certain taxes will still apply on a case-by-case basis. Crypto Taxes in the UK Explained HMRC has released a digital asset tax…

Singapore Plans to Remove Taxes on Cryptocurrencies
Blockchain, Business

Singapore Plans to Remove Taxes on Cryptocurrencies

According to the Inland Revenue Authority of Singapore (IRAS), the country plans to exempt cryptocurrencies from the goods and services tax (GST).  A new proposal in Singapore could make the goods and services tax (GST) unapplicable to cryptocurrencies starting 2020. The Inland Revenue Authority of Singapore (IRAS) is collecting comments from firms dealing with cryptocurrencies…