Crypto-Currency 

US tax authorities launch international force against tax evasion

While we had already spoken of a joint international force (Crypto Sweep) to fight against fraudulent ICOs, here are 5 countries that have joined forces around the Internal Revenue Service (IRS ) to fight against cross-border tax fraud and dirty money laundering.

 

Grouped under the name of Joint Chiefs of Global Tax Enforcement (J5), we learn through a publication on the IRS website , that in addition to US tax services , it is the services of the United Kingdom , Australia , Canada and the Netherlands who will join forces to try to recover every cent of taxes .

The statement on the IRS website reads:

“We will also work internationally to reduce the growing threat of cryptocurrency and cybercrime for tax administrations, and to make the most of data and technology. “

It is true that a statement not associating  “cryptocurrencies” and “cybercrime” in the same sentence could not be done. In any case, it should be noted that tax administrations feel threatened by cryptocurrencies , a pity that they know only repression and still do not understand that the weight of taxes is often disproportionate and counterproductive .

 

Indeed, as Bitcoinist recalls , crypto-enthusiasts have accused the IRS of draconian fiscal policies regarding cryptocurrency trading , and many have complained (as always with tax services?) That the IRS laws are confused , and that it is urgent to establish clearer and more explicit tax laws regarding cryptos trading .

The fight against money laundering and tax evasion should not be used as a pretext to oppress small investors and individual traders under tons of taxes that would annihilate any interest in cryptocurrencies . As the Cointelegraph reported , the IRS was already exploiting blockchain smart search tools like Chainalysis to track cryptographic offenses. A new step is therefore taken in internationalizing the tax hunt .

Let us hope that once the vice is tightened, only the criminals will suffer the effects, and that the tax services will not take advantage of it to bludgeon the small individual investors of taxes from which they will not be able to escape even if they are completely unfair, we have the right to dream!

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