1/🧵 Breaking: Binance, the world's largest crypto exchange, has been issued a tax showcause notice of $86 million by an Indian tax authority! The company is challenging the notice, claiming it has done no wrong. What's at stake? #threadstorm #inleo
2/🧵 Did you know that Binance allegedly earned $476 million in transaction fees transferred to a company in Seychelles? The Indian tax authority claims Binance hasn't paid required taxes on these earnings. Is Binance's global operation a tax avoidance strategy? #cryptotax #Binance
3/🧵 The categorization of Binance's services as OIDAR adds complexity to the issue. Are Indian regulatory bodies in sync? The outcome of this case will set a precedent for crypto companies operating in India. Transparency and tax compliance are key! #cryptoregulation #India
https://inleo.io/@curiousmind2/binance-takes-on-the-indian-tax-authority-5iy