Dive into the tech & future
India’s contribution in the development of Web3, metaverse, and blockchain could increase multi-fold, if more Indians engaged with the digital assets sector, according to PayBito chief Raj Chowdhury. India’s current tax regime on the digital assets sector, Chowdhury believes, is restricting the growth potential of the sector in the country. In an appeal to India’s … Read more
KoinX, India-born crypto taxation platform, is aiming at increasing its userbase by 400 percent in 2023. Moving towards its aim, KoinX on Monday, January 9, launched ‘Tax Professionals’. This new tool that will reduce the turnaround time (TAT) by 99 percent for chartered accountants (CAs) to compile and file taxes on crypto profits as levied … Read more
Italy’s parliament has decided to impose a 26 percent capital tax on profits exceeding $2,060 (roughly Rs.1.7 lakh) generated out of crypto trading. The country has acknowledged the presence of the virtual digital assets (VDA) sector in the existing financial system This tax imposition will be implemented as part of Italy’s budget plans for 2023. … Read more
Rishi Sunak, the Prime Minister of the UK, is actively working on shaping up the crypto sector for the nation with rules and regulations. Going into 2023, foreigners who are using local British crypto exchanges for buying cryptocurrencies will be exempted from paying taxes. In the UK, profits generated out of crypto activities can be … Read more