TaxDAO

The Icelandic government has been supporting the development of the cryptocurrency economy in the country in recent years, with its regulatory measures focusing on preventing illegal financial activities.

Historically, the cryptocurrency industry has always carried the mission of decentralization, while the centralized regulation by governments has always been an unavoidable pressure in its development. Although each strengthening of regulation may cause the industry to experience some turbulence, the resilience and innovative capability demonstrated by the cryptocurrency industry always allow it to be reborn from the ashes.

The "Bitcoin Jesus" case also saw new developments last week. This article will review the case and provide compliance suggestions regarding the related tax risks.

By entering the AI sector, mining companies can not only achieve business diversification but also enhance their ability to withstand the cyclicality of the cryptocurrency market.

TaxDAO will closely monitor the latest developments of the bill and conduct in-depth analysis on the information risks and tax treatment requirements it poses for cryptocurrency practitioners.

The distribution of dividends from US ETFs to residents and enterprises in mainland China is subject to a withholding tax of 10%. Chinese enterprises and individuals are required to pay income tax to the Chinese government. Redemption of ETFs does not generate a taxable event.

The OECD released the "International Standard for Automatic Exchange of Tax Information: Crypto-Asset Reporting Framework and the 2023 Revision of the Common Reporting Standard," which was selected as one of the top ten global tax developments.