Indian crypto exchange WazirX has reportedly paid over $6.62 million (49.2 crore rupees) following non-payment of Goods and Services Tax (GST) on trade commissions. The total recovery includes the pending tax of $5.43 million (40.5 crore rupees), the interest and a penalty for non-payment.Government officials from the Central GST and Central Excise committee (CGST Mumbai Zone) … [Read more...] about Indian taxman recovers $6.62M from WazirX for evading tax on commission
Taxman
Russia’s Chief Taxman Says Crypto Could Erode State Taxation Profits
Daniil Egorov, head of Russia’s Federal Tax Service, mentioned cryptocurrencies as a potential means for tax evasion, in an interview with the Russian news agency RBC.Asked if he noticed any “innovative” tax evasion schemes recently, Egorov mentioned crypto. ”We are watching this market closely and understand that this payment system can significantly erode the taxation base,” … [Read more...] about Russia’s Chief Taxman Says Crypto Could Erode State Taxation Profits