With the surging popularity of NFTs, it was just a matter of time before regulatory bodies and governments would take notice and swoop in with NFT taxation policies. The Internal Revenue Service (IRS) in the United States recently issued clear guidelines on how NFTs should be taxed. The regulator insisted that it recognizes their significance… Continue reading IRS Explains What NFT Taxation Entails
Tag: NFT taxation
Japan Updates Its NFT Taxation Rules And Guidelines
Japan’s National Tax Agency (NTA) confirmed that it has updated its official nonfungible token (NFT) taxation guidelines. For instance, NTA will calculate the cumulative income of a citizen’s currency at the end of every year so that they will only need to pay taxes once. Officials now hope that the change will encourage the traders… Continue reading Japan Updates Its NFT Taxation Rules And Guidelines