New Zealand's Inland Revenue Department targets undeclared cryptocurrency income among 227,000 users.
New Zealand's Inland Revenue Department (IRD) is focusing on individuals not declaring cryptocurrency income in their tax returns, considering crypto assets as taxable property. The IRD has identified 227,000 users making around 7 million transactions worth $7.8bn. The department uses blockchain data and has joined the crypto asset reporting framework for more information on overseas transactions.
July 03, 2024
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