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Things worth reading: 20th March 2020

Chris Skinner

Things we’re reading today include … Former London bankers convicted after Germany’s ‘greatest tax robbery’ Why America’s financial plumbing has seized up ECB U-turn shows it fears coronavirus could destroy eurozone project The agonies of stock-picking in a falling market School closures in the UK are a financial catastrophe (..)

Taxes 242
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Bitcoin Daily: South Korea’s 20 Pct Crypto Tax To Start In 2023; Bitcoin Shoots Above $40K

PYMNTS

South Korea will begin taxing crypto benefits 20 percent, from both buying and selling, beginning in 2023, according to a report from Asia Today. million won (about $2,200) from digital assets will be hit with the 20 percent tax. The report stated the tax announcements were made Wednesday (Jan.

Bitcoin 276
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Digital Taxes, Big Tech In Regulatory Focus As 2020 Dawns

PYMNTS

As 2020 dawns, regulators are continuing to focus on taxes and possible anti-competitive behavior on the part of tech’s marquee names. The initiative is potentially harmful to the market,” a spokesman said, as quoted in the Reporter. “It One continuing theme that will play out into the new year (and well beyond): taxes.

Taxes 131
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Bitcoin Daily: Bitcoin Briefly Breaches $3,700; NH Eyes Crypto Tax Payments

PYMNTS

Jay Clayton, chairman of the SEC, has said he doesn’t see that happening until worries about market manipulation are addressed. In other news, New Hampshire is considering a law that would allow residents to pay their taxes with cryptocurrency. The payments will then begin to be accepted by July 2020.

Bitcoin 184
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Disbursements Satisfaction Report 2020: Monetizing Payout Choice

PYMNTS

Consumers and other businesses can access their tax refunds, benefits, freelance income, insurance claims, dividend payments and other disbursements within 30 minutes of being paid — sometimes even within seconds. We also identified existing market gaps across specific disbursement categories. . We surveyed more than 5,000 U.S.

Report 228
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Macy’s Recognizes $3.1B Charge As Pandemic Reshapes Outlook

PYMNTS

billion non-cash goodwill charge before tax, as the retailer’s long-haul forecast and market capitalization shifted, mainly due to the coronavirus health crisis. Macy’s Chairman and Chief Executive Officer Jeff Gennette said in the statement, “The first quarter of 2020 was challenging for the country, the industry and Macy’s, Inc.

Taxes 232
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Indonesia Levies 10 Pct Tax On Sales From Tech Firms

PYMNTS

The Southeast Asian country’s national tax office announced it will impose a 10 percent value-added tax (VAT) on foreign global technology companies as the nation looks for ways to defray the costs of battling the economic effects of the COVID-19 pandemic, Reuters reported. The country’s total budget for 2020 is $177.6

Taxes 141