Taxpayers must apply general principles in current tax law to their NFT transactions until further notice. Taxpayers should not mistakenly treat NFTs the same as cryptocurrencies as they are ...
The UK tax authority has seized three Non-Fungible Tokens (NFT) as part of a probe into a suspected VAT fraud involving 250 alleged fake companies. HM Revenue and Customs (HMRC) said three people ...
This book considers the development of tax legislation from a comparative law perspective. It grows out of the IMF Legal Department's experience in assisting many developing and transition countries ...
Since recording a monthly volume of $1.6 billion in March, its highest in 2024, NFT volumes have been on a downward trajectory. It continued through September when NFTs reached their lowest ...
India plans to tax cryptocurrency transactions at a rate of 30%. This is at par with the highest income tax slab applicable to individuals with an income in excess of ₹15 lakh per annum.
But while profits soar, so does the tax burden for investors. In 2022, the Indian government introduced a flat 30% income tax on gains from cryptocurrencies and Non-Fungible Tokens (NFTs).