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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. According to the report, investors making more than 2.5 million won (about $2,200) from digital assets will be hit with the 20 percent tax.

Bitcoin 276
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Mexico To Tax Digital Services From Other Countries

PYMNTS

Mexico passed a law this week that taxes digital services from other countries, according to a report. A 16 percent value-added tax (VAT) will be tacked onto digital services starting on June 1 of this year. The tax will cover all online applications, including video, audio streaming, images, education and others.

Taxes 239
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Report: Taxpayers Face $400B Hit On Bad Student Loans

PYMNTS

taxpayers stand to absorb a hit of about $435 billion from borrowers’ failure to repay student loans currently on the federal government’s book, the Wall Street Journal reported Saturday (Nov. Department of Education and two private consultants that helped the agency review the situation, the WSJ reported.

Report 283
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Treasuries Shrug Off Strong July Jobs Report

South State Correspondent

Treasuries Shrug Off Strong July Jobs Report. Treasury prices are higher this morning as the downdraft created by the stronger-than-expected July employment report was short-lived. Another potential catalyst came and went with the passage by the Senate yesterday of the climate, healthcare, and tax bill. vs. June’s hot 1.3%

Report 195
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Amazon Raises Fees For Spanish Companies Due To New Tax

PYMNTS

Amazon is planning to hike fees for Spanish companies using its platform by 3 percent from April, according to a Reuters report, since the country's government imposed a new digital tax. A spokesperson for Amazon said the so-called " Google tax" would end up hitting users. Spain began charging the fee on Jan.

Taxes 151
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New India Tax Prompts Pushback By Amazon And Flipkart

PYMNTS

Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The proposed tax is a piece of a bigger plan by Indian Prime Minister Narendra Modi. billion people in India pay income tax.

Taxes 159
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Big Tech Compliance Tracker: Europe Plans To Release Drafts Of Digital Regulation Legislation; UN Initiative To Tax Big Tech In Developing Nations Gains Momentum

PYMNTS

Europe Plans To Publish Digital Services Act, Digital Markets Act Drafts. The Digital Markets Act is a second set of regulations. They will have two pillars, which Vestager described as a do’s and don’ts for large digital gatekeepers and a “harmonised” market probe blueprint “across the single market.”. Regulation.

Taxes 212