{"id":4095,"date":"2023-04-29T16:56:03","date_gmt":"2023-04-29T21:56:03","guid":{"rendered":"https:\/\/sikaoer.com\/revolut-taps-koinly-for-automated-cryptocurrency-tax-reports\/"},"modified":"2023-04-29T16:56:03","modified_gmt":"2023-04-29T21:56:03","slug":"revolut-taps-koinly-for-automated-cryptocurrency-tax-reports","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/revolut-taps-koinly-for-automated-cryptocurrency-tax-reports\/","title":{"rendered":"Revolut taps Koinly for automated cryptocurrency tax reports"},"content":{"rendered":"<p> <br \/>\n<br \/><\/p>\n<div data-v-2ab31f4e=\"\">\n<p>As cryptocurrencies increasingly fall under the purview of global tax authorities, fintech Revolut has integrated an automated tax reporting service for its users.<\/p>\n<p>The digital financial services provider has partnered with cryptocurrency tax solution Koinly to allow users to generate cryptocurrency tax reports to work out gains and losses. Revolut users will be able to synchronize their cryptocurrency transaction history with Koinly to expedite tax calculations.<\/p>\n<p>Koinly\u2019s global head of partnerships Jane McEvoy tells Cointelegraph that the partnership has been a work in progress since the start of 2023. The service works with more that 50 different partners around the world, which has enabled the company to cater to a wide range of users with different cryptocurrency tax preferences and requirements.<\/p>\n<p>Koinly\u2019s head of tax Danny Talwar added that the use of crypto tax software is becoming increasingly popular as tax authorities around the world hone in on the sector. <\/p>\n<blockquote><p>\u201cMany crypto traders have multiple exchanges and wallets, meaning keeping tax records are a nightmare. With strict and onerous record keeping requirements globally, crypto tax software saves time and automates tax reporting.\u201d<\/p><\/blockquote>\n<p>Talwar previously highlighted the importance of cryptocurrency tax services in helping citizens in the United States take advantage of \u201ctax loss harvesting.\u201c Speaking to Cointelegraph ahead of the U.S. tax deadline in April 2023, Talwar said taxpayers would do well to take advantage of depressed cryptocurrency markets to reduce their tax liabilities.<\/p>\n<p><strong>Related: Study claims 99.5% of crypto investors did not pay taxes in 2022<\/strong><\/p>\n<p>Revolut serves over 28 million users across several jurisdictions worldwide following the acquisition of a banking license in Lithuania in late 2018. The digital bank has been offering cryptocurrency custody services\u00a0since December 2017. <\/p>\n<p>The fintech firm has since expanded its services around the world in conjunction with regulatory compliance processes in various countries. This includes receiving a green light\u00a0from the United Kingdom\u2019s Financial Conduct Authority in September 2022 to offer cryptocurrency products and services in the country.<\/p>\n<p><strong>Magazine:\u00a0Best and worst countries for crypto taxes \u2014 plus crypto tax tips<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/revolut-taps-koinly-for-cryptocurrency-tax-reports\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As cryptocurrencies increasingly fall under the purview of global tax authorities, fintech Revolut has integrated an automated tax reporting service for its users. The digital financial services provider has partnered with cryptocurrency tax solution Koinly to allow users to generate cryptocurrency tax reports to work out gains and losses. Revolut users will be able to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-4095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Revolut taps Koinly for automated cryptocurrency tax reports - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/revolut-taps-koinly-for-automated-cryptocurrency-tax-reports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revolut taps Koinly for automated cryptocurrency tax reports\" \/>\n<meta property=\"og:description\" content=\"As cryptocurrencies increasingly fall under the purview of global tax authorities, fintech Revolut has integrated an automated tax reporting service for its users. 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