Tax

🔍 India continues its tough stance on crypto, maintaining high taxes while adding new compliance rules and harsh penalties. Here's a breakdown of the latest updates as of FY 2025–26:
• 💸 30 % tax on profits from all virtual digital assets (VDAs), including NFTs, equating crypto gains to income from gambling — with no loss offsets or holding period benefits
• ➕ 4% health & education cess plus applicable surcharges
• ✂️ 1% Tax Deducted at Source (TDS) on crypto transfers above ₹10,000/year as advance tax (not a replacement for final tax)
• 📄 Mandatory declaration of crypto gains in Schedule VDA using ITR-2 (capital gains only) or ITR-3 (business income)
• ⚠️ From Feb 1, 2025: 70% penalty tax on undisclosed crypto assets, no deductions allowed
• 📦 Crypto gifts over ₹50,000, airdrops, forks, mining/staking income are taxable; wallet-to-wallet transfers under same owner are exempt

📉 Market Impact & 🚨 Enforcement
• Trading volumes dropped by up to 90% as investors move offshore
• Crypto Centralized Exchanges fined heavily for GST (Goods and Services Tax) evasion
• Income Tax Dept actively issuing notices and conducting raids, including on P2P traders
• Example: Trader fined ₹78,000 for ₹1,500 profit due to missing KYC compliance

🧠 Tips for Crypto Users in India
• 🧾 Track every crypto transaction — including buys, sells, transfers, and receipts
• 🛠️ Use tax tools like ClearTax, Koinly, or exchange-provided reports to ensure accuracy
• 📄 File the correct ITR form (ITR-2 or ITR-3) and complete Schedule VDA properly
• 🎁 Report even small airdrops, gifts, or forks to reduce audit risk
• ⏰ Don’t delay — penalties for non-compliance are steep and enforcement is increasing
• ⚖️ Consult a qualified tax professional or crypto-savvy tax lawyer to stay fully compliant and handle complex cases confidently
✅ Bottom line:
India’s crypto tax framework is fully in force—with high taxes, mandatory reporting, and strong enforcement. Retail adoption has declined, compliance burdens are increasing, and enforcement actions are well underway. Individuals and exchanges should act swiftly to ensure full compliance or face steep penalties.
#tax #IndiaCrypto
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#tax
Brazil’s new crypto tax ends exemptions for gains under R$35,000 (AU$9,696).
A flat 17.5% capital gains rate now applies to all investors.
Self-custodied and offshore crypto assets are also subject to the tax.
The Brazilian government has eliminated its tax exemption for small-scale cryptocurrency investors. On 11 June, the government published Provisional Measure 1303 (MP 1303), introducing a 17.5% flat tax on all cryptocurrency capital gains.
Previously, Brazilian residents who sold up to R$35,000 (AU$9,696) worth of crypto per month were exempt from income tax. Profits above this threshold were taxed progressively, starting at 15% and reaching up to 22.5% for volumes over R$30 million (AU$8.32 million).
The new measure removes all exemptions and applies equally to all investors, regardless of transaction volume. This means small traders now face higher taxes, while large investors may see their tax bills reduced from the previous system, according to Brazilian news outlet Portal do Bitcoin.
MP 1303 will also cover crypto assets held outside exchanges or in foreign jurisdictions. Profits must be reported quarterly, and losses may be offset over five previous quarters, a timeframe that will be shortened from 2026 onwards.
The rules for companies under Brazil’s real and presumed profit regimes remain unchanged. These entities still cannot deduct losses from crypto asset operations.
Apart from Crypto, Government Targets Bonds and Betting
In addition to crypto, fixed-income products Agribusiness Credit Letters, Real Estate Credit Letters, Real Estate Receivables Certificates, and Agribusiness Receivables Certificates will now incur a 5% tax on profits. Additionally, taxes on revenues from online betting operators will rise from 12% to 18%, although taxation on better prizes awarded remains unchanged.
These changes follow the withdrawal of a proposed hike in the Financial Operations (IOF) Tax, which faced backlash from Congress and financial markets. The Ministry of Finance introduced MP 1303 as an alternative approach to raise tax revenue.

Follow 🔥 Stay tuned for more updates 🚀😍🚀

#cryptocurreny #bitcoin #tax
India's tax department is stepping up the pursuit of crypto profits, issuing notices to taxpaying individuals for not reporting virtual asset income. The Central Board of Direct Taxes is checking crypto transactions in tax returns, with differences between TDS reports from exchanges and income tax returns setting off alarms. Section 115BBH subjects VDA profits to a 30% tax, with no deductions or netting against losses. The tax authority's data-driven strategy seeks to induce compliance through less forceful means, utilizing bank data, VASP reports, and blockchain analysis. Traders are now under increased scrutiny, with failure to disclose VDA occasioning fines. Exchanges are being squeezed to produce accurate reporting so as not to face additional investigations. The industry reaction is unclear, with possible moves towards better record-keeping or decreased trading activity to cut tax bills. Clarity in enforcement will bring in more institutional participants to the market.
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Here's the reasoning in summary, read this at least once.
The Federal Revenue, the State, the system, whatever you want to consider, are people that form a legal entity, basically.
There is no group coexistence without rules, rights and obligations, therefore, there is no life without the State, our most modern form of social organization.
Taxes are demonized by people, and there is a reason for this, it is indisputable, after all we pay high taxes (they are not the highest in the world, but they are high) and we do not get an adequate return, and this is another problem.

The President of Mexico announced that President Trump agreed to postpone tariffs for one month after discussions between the two sides. In return, Mexico will:
Deployment of 10,000 National Guard soldiers to assist in border protection.
Cooperate with the U.S. on security and business initiatives.

Mexico chose to cooperate instead of confront the Trump administration. The market reacted positively and recovered after this information.