Crypto exchanges operating in the United Kingdom – including the likes of Coinbase – will be forced to pay a recently created tech tax – with the British tax body, HM Revenue and Customs (HMRC), declaring that cryptoassets “are not financial instruments.”
The British Treasury last year announced the launch of a new 2% sales charge on online vendors, search engines and social media providers with global revenue of over USD 666.4m and domestic sales above the USD 33.3m mark....
Read More: ‘New Blow’ as Large Crypto Exchanges Are Told to Pay British Tech Tax
‘New Blow’ as Large Crypto Exchanges Are Told to Pay British Tech Tax
