AUSTRALIA TO CRACK DOWN ON CRYPTOCURRENCY TAX AVOIDANCE SCHEMES

Coindesk on 7th June said that the Australian Taxation Office (ATO) may soon crack down on major tax avoidance schemes using cryptocurrencies, and is said to be is working on 12 tax avoidance cases involving abuse of crypto assets – said to be part of a global investigation by tax authorities from 5 countries (Australia, US, UK, Netherlands and Canada).  These agencies, known as the “J5,” are pursuing a further 50 similar investigations globally.

https://www.coindesk.com/australia-to-crack-down-on-crypto-tax-avoidance-schemes

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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