Posts Tagged ‘cryptocurrency’

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The reality that “Blockchain” does not equal “cryptocurrency” or more specifically “Bitcoin” is well understood by business leaders today. But executives are just starting to realize that blockchain does equal opportunity for their businesses. Through its vast, and still largely untapped potential, blockchain may significantly streamline enterprise processes, reduce labor- and document-intensive transactions, and generally […]

Tax authorities in Norway have urged diligence when reporting cryptocurrency profits after news emerged that two miners paid just 74,000 kronor ($8750) in tax on reported holdings of 34 BTC ($218,000).

The South African Revenue Service is working to improve the tracking of cryptocurrency traders and their transactions in order to verify if they are paying taxes. According to its Commissioner, the agency is exploring ways to better identify those that are profiting from trading digital assets and check if they are evading taxation.

Dozens of hedge funds investing billions of dollars in cryptocurrencies don’t know if they’re calculating their taxes correctly, which may be a problem now that U.S. authorities have said they’re going to be scrutinizing virtual currencies.

The South Africa Revenue Service (SARS) has put forward a suggestion to tax income generated from cryptocurrency trading and operations, TechWeez reported on Wednesday.

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