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Tax expert: Solana stolen assets of users in some countries can be regarded as tax losses



Time:8/5/2022 12:04:14 PM

[Tax expert: Solana stolen assets of users in some countries can be regarded as tax losses] According to news on August 5, tax experts said that the stolen cryptocurrencies of cryptocurrency investors in Australia, Canada and the United Kingdom may be regarded as tax losses. loss. CryptoTaxCalculator CEO Shane Brunette, an Australian crypto tax service provider, confirmed that in some jurisdictions, cryptocurrencies lost due to hacks or exploits may be declared as tax losses, but relevant proof is required.

For those living in the UK and Canada, the situation is a bit more complicated, but tax loss claims can be made if the investor is willing to go through unique steps prescribed by each state tax office. (Cointelegraph)

Other news:

The Liaoning Provincial Taxation Bureau will introduce blockchain technology to solve problems such as online payment of electronic vouchers: The Liaoning Provincial Taxation Bureau will continue to strengthen cooperation with relevant agencies and departments to promote diversified and multi-channel payment methods throughout the province. Starting from improving the satisfaction of payers, in accordance with the principle of "full coverage of insurance types, full coverage of collection methods, and full coverage of payment groups", blockchain technology is introduced to solve common concerns of payers such as online processing of electronic payment vouchers. On the basis of popularizing the pilot experience, the province-wide network coverage of basic medical insurance premiums for urban and rural residents will be gradually completed, truly realizing that people can pay medical insurance premiums without going out, and enjoy easy online processing. (Liaoning Daily) [2020/4/8]

News| The IRS releases the latest tax report: Concerns about crypto tax evasion: According to, the IRS recently released a new tax report, which shows that from 2008 to 2010, 83.8 % of taxes are paid voluntarily and on time. The new figures show that between 2011 and 2013 it was 83.6 per cent, without any noticeable improvement. IRS Commissioner Chuck Rettig said voluntary compliance is the cornerstone of the U.S. tax system, and maintaining the highest possible rate of voluntary compliance also helps ensure taxpayers trust the system to be fair. As the popularity of encryption technology continues to rise, the IRS believes that the entry of encrypted assets into the market has contributed to the violation of tax evasion. In this regard, the IRS participated in the establishment of J5 (a joint working group of tax authorities composed of representatives of the United States, the United Kingdom, the Netherlands, Australia and Canada) to conduct cross-border investigations of tax evasion through cryptocurrency. J5 aims to collect information through joint efforts, Share intelligence, conduct business and empower tax crime enforcers. [2019/9/30]

The United States, Britain, Australia and other countries form an international tax law enforcement team to combat the use of virtual currency tax avoidance crimes: U.S. Treasury Department officials are forming an international tax law enforcement team with their counterparts in the United Kingdom, Australia, Canada and the Netherlands to focus on cracking down on the use of the Internet or virtual currency The crime of tax avoidance. Don Fort, director of the IRS Criminal Investigations Division, said the group will explore ways to improve coordination at the operational level and prosecution of tax evasion cases. [2018/6/22]

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