Crypto Tax Evasion Not To Be A Problem Anymore in Japan As The Government Builds New Reporting System

Crypto Tax Evasion has been a major concern for the Japanese Government because cryptocurrency firms have been evading a significant amount from their profits that were supposed to be taxed. The Japanese Government is now seriously considering ways to combat this tax evasion. Reportedly, the new system that is drafted by the government will permit […]

Impact of Bitcoin on Tax

Bitcoin is a relatively new e-currency payment system that is not operated by a centralized government authority like most other currencies. Popular for online payments and transfers due to its built-in encryption and security methods, Bitcoin has captured the attention of many non-traditionalists and tech-minded people. It has also captured the attention of the Canada […]

Tax Evasion

Tax evasion refers to any attempt to avoid payment of taxes owed by illegal methods. It is a crime in which an individual or entity intentionally underpays, or avoids paying, taxes. Every year, each citizen who has income and/or assets is required to file a tax return. Each year many people misrepresent how much money […]

Tax haven

A tax haven or offshore financial center is any country or jurisdiction that offers minimal tax liability to foreign individuals and businesses. Tax havens do not require businesses to operate out of their country or the individuals to reside in their country to receive tax benefits. Criteria for Tax Havens: In 1998, the Organization for […]

Canadian Taxation for Seniors

Seniors CRA allows seniors to claim number of tax benefits on their returns. They are commonly entitled to receive tax benefits for pension income, medical expenses and disabilities. Old Age Security Pension (OAS) The Old age security pension is a monthly payment available to most Canadians aged 65 or older. OAS benefits are based on […]