Sinagapore Recognizes Bitcoin and Gives Guidance
Singapore again leads the region into new technology. In a press release today, David Moskowitz (owner of Coin Republic) explains that his company received very positive news from Singapore's tax authorities (IRAS) pertaining to the guidance on handling "capital gains, earnings, and even GST (sales tax) on bitcoin exchanges and bitcoin related sales." "Singapore, January 8, 2014: While most governments are scratching their heads about how to handle Bitcoin, Singapore has once again shown its leadership in the region by letting Bitcoin businesses and merchants know how to handle taxation on....
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It's the start of a new week, and the bitcoin price (or rate) is not surprisingly doing crazy things. Today, the price per coin has come up a whopping 20 percent (as of this writing - and it may change depending on what you're reading this) with relative ease - reaching a high of $710/BTC at Bitstamp. But almost as quick as the price came up, it began to dip slightly. At the time of this writing, we're looking at prices in the rang of $675/BTC at Bitstamp. Some speculate that the rise is associated with the release of tax guidance from HM Revenue & Customs in the United Kingdom. In that....
Today was the day many Australians that dabble in bitcoin and other digital currencies were very much looking forward to. The country's tax authority - the Australian Tax Office - was due to release guidance on the use of bitcoin. But they haven't, and it looks like there's going to be a delay period of another month, according to iTnews. "It remains our priority to provide the community with the final guidance paper in time for people to complete their 2013-14 income tax returns," said a spokesperson for the tax office, but of course, tax payers are still very much in the dark. But....