New Zealand Plans To Change Crypto Taxation
26 February 2020 11:47, UTC
The New Zealand Inland Revenue Department (IRD) is proposing a new digital money taxation project. The goal of the project is to exempt cryptocurrencies from VAT and get rid of “unfair” double taxation.
The new taxation will apply to cryptocurrencies that function as securities or currencies. Currently, there is a need to create a detailed classification of all digital money in order to determine their purpose and functions.
07-02-2020 15:35:52 | News
At this stage, the project is open to public comment. The country's tax department asks the public to give feedback on the proposed changes, and then consider next steps.
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