In the burgeoning digital economy, Kyrgyzstan is emerging as a contender in the crypto mining sector, with tax revenues showing a promising increase. The nation’s Finance Ministry reports a collection of 78.6 million soms (approximately $883,000) from the industry within the first 11 months of 2023. Despite the fluctuations in monthly tax income, with a peak in August […]

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Japan has revised its tax laws to foster a more crypto-friendly business environment. Starting April 1, 2024, coinciding with the onset of the fiscal year, Japanese companies will experience a significant shift in how they are taxed on cryptocurrency assets. Corporations will now be taxed solely on profits realized upon the sale of cryptocurrency, aligning with the […]

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The European Union is closely examining a significant tax dispute involving Meta Platforms Inc., the parent company of Facebook. The issue, which carries potential implications for digital taxation across the bloc, has been referred to the EU Commission’s VAT committee. Meta, which also operates Instagram, WhatsApp, and Oculus, is contending with an Italian tax bill […]

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The IRS’s Criminal Investigation (CI) Unit has reported a notable surge in tax probes related to digital currencies. The fiscal 2023 dossier reveals a meticulous scrutiny of undeclared crypto assets and unreported capital gains from their transactions. The CI Unit has launched over 2,676 cases, unearthing financial discrepancies amounting to a staggering $37 billion linked to tax […]

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India’s tax authority has issued notices to online gaming companies, demanding an eye-opening 1 trillion rupees or approximately $12.03 billion in back taxes. An anonymous government official confirmed the issuance of these show-cause notices, saying, “The amount for which show-cause notices have been issued to online gaming companies is around 1 trillion rupees”. The timing […]

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The primary iPhone assembler for Apple Inc, Foxconn Technology Group, is currently under investigation in China, as reported by local news outlets. The tech titan is facing audits related to taxation, along with inquiries into its land use practices. China’s natural resources department is examining Foxconn’s operations in the provinces of Henan and Hubei. The […]

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Taxation can often feel like a maze for small business proprietors. However, with well-thought-out business tax planning, you can not only ease the stress but also retain more of your hard-earned money. This exhaustive guide synthesizes expert recommendations to offer you a thorough strategy for effective tax planning for small businesses. The Significance of Business […]

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In the compact city-state of Singapore, owning a car has always been considered a luxury, primarily due to the unique and stringent vehicle quota system, which has recently seen prices soaring to unprecedented heights. The Certificate of Entitlement (COE), a mandatory 10-year ownership certificate introduced in 1990, has reached a staggering cost of $106,000, equivalent […]

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