With increasing concerns over tax evasion in the crypto space, local authorities are exploring ways to strengthen enforcement.<\/p>\n
During a recent hearing, Taiwan\u2019s Ministry of Finance acknowledged<\/a> <\/strong>that the country lacks a clear system for taxing cryptocurrency earnings. Finance Minister Chuang Tsui-yun admitted that effective tracking of individual crypto transactions has not been implemented.<\/p>\nLawmaker Lai Shyh-bao raised questions about the fairness of the current tax approach, noting that crypto traders might avoid paying taxes due to the absence of stringent audits. Lai argued that, despite cryptocurrencies being classified as digital assets, there\u2019s no clear directive to ensure investors report their gains.<\/p>
Lawmaker Lai Shyh-bao raised questions about the fairness of the current tax approach, noting that crypto traders might avoid paying taxes due to the absence of stringent audits. Lai argued that, despite cryptocurrencies being classified as digital assets, there\u2019s no clear directive to ensure investors report their gains.<\/p>