The US Department of the Treasury proposes to declare operations of digital assets

In a report just posted me, denominated "The American Families Plan Tax Compliance Agenda”, The US Department of the Treasury has pointed out the interest in digital asset transactions, which is why it has proposed that banks, payment providers and exchanges of cryptocurrencies, comply with informing the Internal Revenue Service (IRS) about operations that exceed USD 10 thousand dollars as of 2023, according to Cointelegraph.

As is well known, government entities around the world are looking for ways to regulate activities with crypto assets, as these can be susceptible to being used for illegal activities, some even prohibiting transactions carried out in cryptocurrencies, while others, on the contrary, adopt them; However, these States regulate obligations to report operations, in order to comply with the standards of the Financial Action Task Force (FATF).

In accordance with the aforementioned, in the case of the United States, this measure is expected to reduce the tax gap (that is, the difference between the taxes that are owed and those that should be paid), thanks to the fact that the government will be able to audit companies with tax discrepancies, forcing them to report correctly, without the need to establish new obligations for taxpayers.

- Advertising Notice-
Carlo palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com

Similar

1,954Happy fans
514FollowersFollow
91FollowersFollow

Subscribe

*All fields are required
es Spanish
X