The International Monetary Fund (IMF) also recommended Pakistan introduce stricter laws on collecting capital gains from real estate title transfers.
Earnings already subject to the 15% capital gains tax don't need to be included when calculating income taxes.
The IRS will use the funding from the Inflation Reduction Act (IRA) — a federal law aimed at curbing inflation — to build compliance in emerging areas, which includes digital assets as a top priority.
The Gyeonggi Tax Department used the resident registration data of “delinquents,” tracing their mobile phone numbers to detect their accounts on crypto exchanges.
India banned crypto exchanges that didn’t comply with FIU guidelines, but market experts point to a lack of regulatory clarity and high taxation, forcing crypto traders to rush to foreign exchanges.
According to Coin Center executive director Jerry Brito, it’s “unclear how one can comply” with the crypto tax reporting guidelines in 2024.
Thirty companies were granted virtual asset service provider licenses in the country during the year.
The Capital Markets (Amendment) Bill will now be introduced to the lower chamber of the Kenyan parliament.