On March 28, 2022, the Biden Administration released its budget proposal for Fiscal Year 2023 (the Budget). We summarize below the tax aspects of the Budget of particular interests to U.S. corporate taxpayers, financial institutions, investment funds, and their investors.
President Biden’s budget proposals would clarify several aspects of cryptocurrency taxation.
The OECD is consulting on a new tax reporting framework for cryptoassets.
The influential NYSBA Tax Section recently published its cryptocurrency tax recommendations.
The UK’s First-tier Tribunal considered the “place of effective management” test under the UK-Mauritius double tax treaty.