Ending Corporate Tax Evasion – Impact On Bitcoin Companies?
Tax evasion is a real threat to the global economy, and the biggest culprits are large corporations abusing loopholes to avoid paying taxes. According to research estimates, a total of US$240 billion worth of taxes is not being paid by corporations all over the world. Such a vast sum of money could do a lot of good all over the world, and it is time these practices come to an end. Officials representing the world’s 20 largest economies will be contemplating the approval of a new set of corporate taxation rules. Tax evasion in the corporate world is nothing new under the sun, as these....
Related News
With the new EU VAT legislation, which came into effect on 1 January 2015, the EU companies in the telecommunication, broadcasting or e-service field have to comply with new rules, which require companies selling e-services and goods within the EU to establish a proof of residence for their customers. EU tax evasion on the microscope. The newly launched VAT regulations focus on the prevention of tax evasion. More specifically, they aim to eliminate the advantage of large corporations to locate their offices in EU countries with low VAT rates in order to supply their products within the EU....
While there is an argument to be made for strengthening anti-money laundering rules,the implementation may leave much to be desired. In the end, it will all come down to how these new proposals will be enforced. Tax evasion through offshore accounts and shell companies remains a serious problem. The European Commission unveiled their plans to Clamp down on these practices moving forward. Clamping down on individuals and companies trying to avoid paying taxes is the primary objective right now.Moreover, the commission will also go after lawyers and tax advisers helping clients to sluice....
With appetites for BTC allocations firmly present, calculations suggest that even small buy-ins would have a dramatic effect on price action. Bitcoin (BTC) could fetch at least a $535,000 price tag if corporate buyers convert 10% of their cash reserves to the largest cryptocurrency.In one of the various conclusions from its latest report, "Bitcoin: Preparing for Institutions," investment firm Ark Invest said that even a 1% allocation from S&P 500 companies would be enough to increase BTC/USD spot prices by $40,000.Minimum corporate BTC allocation: 2.55%The findings come as institutional....
According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country. Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from 'Grim Reapers' financial crimes unit, the crypto firm has now come under the radar of the national tax agency.According to a report published in Naver news, South Korea’s national tax agency has slapped the....
When it comes to online services and platforms, in general, there has always been an unwritten rule to “not earn too much money” in order to avoid further taxation of earnings. While not officially deemed a valid rule by government officials, most countries have a law in place allowing citizens to earn an additional income of a certain yearly amount that....