tax

#Japan is really bad when it comes to the crypto market. I think we are the only country that needs to pay crazy capital gains taxes on crypto (with rates maxing out at 55%) - can you imagine you make 1Mil but then government will take more than half of your money. When you lose government won't support anything. can't write off... i
The government really needs to change...
#Japan #仮想通貨 #tax

Cryptocurrency transactions, including trading, staking, and earning rewards, are taxable events in most countries. As tax season approaches, properly reporting your crypto activity is crucial to avoid penalties. Fortunately, exchanges like Binance provide tools to simplify the process.

Why Crypto Taxes Matter?

Every time you trade one crypto for another, sell crypto for fiat (like USD), or earn interest, you likely create a tax liability. Authorities are increasingly tracking crypto activity, making accurate reporting essential.

Using Binance’s Tax Reporting Tool

Binance offers a built-in Tax Reporting Tool to help users generate transaction summaries. Here’s how to use it:

Step 1: Access the Tool

Log into your Binance account. On the desktop site, click "Wallet" in the top menu, then select "Tax" from the dropdown.

Step 2: Generate Your Report

The tool dashboard will show an overview. Click "Generate Report." You can select the fiscal year (e.g., 2023) and your reporting country to apply relevant tax rules.

Step 3: Review & Download

Binance will compile your taxable transactions: trades, earnings, payments, and more. Once ready, you can download the report as a CSV or PDF file. This document summarizes your gains, losses, and income.

Important Tips for Crypto Tax Management

1. Keep Records: Use the Binance tool, but also maintain your own records of deposits, withdrawals, and external wallet transactions.
2. Understand Your Country’s Rules: Tax laws vary. Some countries have capital gains taxes, others have income-based taxes. Consult a tax professional if unsure.
3. Report All Income: Don’t forget non-trading activities like staking rewards, Binance Earn interest, or NFT purchases—these are often taxable.
4. Start Early: Don’t wait until the deadline. Gathering data takes time, especially if you use multiple wallets or exchanges.

Beyond Binance’s Tool

For complex portfolios across multiple platforms, consider dedicated crypto tax software (like Koinly, CoinTracker) that can integrate your Binance report with data from other sources.

Final Thought

While Binance’s tool provides a strong foundation, crypto taxation can be intricate. Use the generated report as a starting point, and seek expert advice to ensure full compliance. Staying organized and proactive is the key to a stress-free tax season.

Disclaimer: This article is for informational purposes only and does not constitute tax advice. Please consult a qualified tax professional for guidance specific to your situation.
#tax #BinanceSquareFamily

People buying cryptocurrency in the UK now need to share their account details or face penalties, in changes that came into effect on 1 January.
The move by the UK's tax body is designed to ensure they pay all relevant tax on buying and selling crypto, including capital gains tax.
HMRC will begin automatically collecting information on all users of cryptocurrency exchanges - which are effectively the industry's banks - in a bid to start collecting tens of millions in unpaid tax.
The change comes as the financial watchdog continues its consultation on tougher regulation for the industry, including measures to stop insider trading.
The value of Bitcoin, which is often seen as a barometer of the entire industry, surged from about $93,500 (£69,500) a coin at the start of 2025 to a high of nearly $124,500 before falling below $90,000 by the end of the year.
Investors who bought when the value was lower and sold when it was higher are in line to pay taxes, but authorities have historically struggled to collect it, says Dawn Register, a tax dispute resolution partner at accountancy firm BDO.
"HMRC has been concerned for some time about high levels of non-compliance among crypto investors," she says.
The new rules coming in will make it much harder for the crypto rich to hide any untaxed gains, giving the tax authorities much more information about crypto users and their transactions.
Cryptocurrency exchanges, which act like banks for the industry allowing people to exchange standard currency for virtual coins, must now ensure they automatically share up to date and accurate accounts of all their users' earnings.
If not, fines may be imposed.
Cryptoqueen who fled China for London mansion jailed over £5bn Bitcoin stash
Family's warning as crypto scam cost man £3,000
The Swiss city that lets you pay for most things with bitcoin
These Cryptoasset Reporting Framework (CARF) regulations are being implemented in dozens of other countries which will make international cooperation easier for tax authorities to share information.
HMRC estimates there could be many thousands of crypto owners in the UK with unpaid tax bills and hope the new rules will bring in at least £300m in the next five years.
Ms Register warns that anyone who made crypto gains in the 2024-25 financial year may have to file a tax return before 31 January, through a new dedicated section in the self-assessment form.
"HMRC is also looking to encourage voluntary disclosure where people have unpaid tax in earlier years and want to correct their affairs," she says.
"HMRC is running a disclosure facility where taxpayers can come clean on undeclared gains and unpaid tax prior to April 2024."
Meanwhile, the Financial Conduct Authority is running public consultation until 12 February on other proposed crypto rules, which include standards for crypto exchanges, new requirements to ensure brokers act responsibly, and rules around crypto lending and borrowing.
Commenting on the consultation last month, the authority's executive director for payments and digital finance David Geale said regulation was coming.
"Our goal is to have a regime that protects consumers, supports innovation and promotes trust. We welcome feedback to help us finalise these rules," he said.
With additional reporting from Joe Tidy
#Tax #USDT #Crypto #CryptoCurrency

Segue o raciocínio de forma resumida, leia isto ao menos uma vez.
A Receita Federal, o Estado, o sistema, seja lá o que queira considerar, são pessoas que formam uma entidade jurídica, basicamente.
Não existe convivência em grupo sem regras, direitos e obrigações, portanto, não existe vida sem Estado, a nossa forma mais moderna de organização social.
Os impostos são demonizados pelas pessoas, e há razão para isso, é indiscutível, afinal pagamos impostos altos (não são os mais altos do mundo, mas são altos) e não temos um retorno adequado, e este é um outro problema.
Por falta de entendimento e muita desinformação, as pessoas culpam o "Estado"! Compreensível, mas está errado.
O que ocorre é que não há tributação progressiva justa, ou seja, o imposto, que é inevitável em qualquer tipo de organização humana moderna, é pago em sua maioria pelas classes baixas e médias, o milionário e o bilionário deixam de pagar impostos de diversas maneiras, através de benefícios (bolsa banqueiro), isenções fiscais, manipulação no congresso e etc.
Se as poderosas e milionárias igrejas se isentam de impostos, alguém pagará por elas, nós.
Se o rico não paga IPVA do seu helicóptero e do seu iate, o cara que tem um celta vai pagar.
Se o rico ganha isenções milionárias, para, supostamente, "incentivá-los" a "investir", alguém pagará por eles, nós!
Eu acho extremamente injusto eu pagar 15% de IR sobre um rendimento de 10.000. Acho uma podridão, mas a culpa não é do Estado, a culpa é do rico, que domina o Estado com o seu poder econômico.
Vivem isolados nos seus mundos de luxo, com segurança, educação e saúde privada, não sofrem as dificuldade rotineiras de violência que sofremos, e, através da força do seu dinheiro conseguem mais riquezas com isenções, benefícios, dinheiro fácil e golpes. A maioria dos ricos são corruptos (talvez seja isso que lhe atraia na riqueza).
Nós pagamos a conta. É matemática básica. A culpa não é do Estado, a culpa é da população que vota no candidato do rico, representando-os na sua função de Estado.
O rico é o sistema
O rico é o Estado
A concentração de riqueza é o problema

Espero ter elucidado o assunto de forma minimamente razoável.

#StateTax #Tax