The US Treasury Department plans to relax corporate crypto tax rules, and companies such as Strategy may be exempt from paying billions of unrealized
according to Crypto In America, the US Department of the Treasury is preparing to formally relax a proposed rule. The rule originally would have levied a 15% tax on unrealized bitcoin gains held by companies like Strategy, based on the Corporate Alternative Minimum Tax (CAMT) Act.
The CAMT Act requires large companies to pay a minimum tax on their financial statement income. Under current accounting standards, companies are required to value their holdings of cryptocurrencies at market value, which means that even if they do not sell, their unrealized profits will be taxed.
Previously, companies like Strategy and Coinbase had written to the Treasury Department, arguing that taxing unrealized gains on digital assets is unfair and would force US companies to sell assets to pay taxes, putting them at a disadvantage in global competition.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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