The profits that these operations make would be taxable in most countries.
Why is Spain different?
Topic: [2016-09-27]Spain to Tax Bitcoin and Altcoin Mining Companies (Read 523 times)
September 27, 2016, 05:30:29 PM
Spain to Tax Bitcoin and Altcoin Mining Companies
Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable.
The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however credible it may look for legitimising crypto-mining operations, could also affect the profitability of mining operations; thus, forcing miners to quit...
http://www.newsbtc.com/2016/09/27/cryptocurrency-mining-operations-may-soon-attract-taxes-in-spain/
Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable.
The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however credible it may look for legitimising crypto-mining operations, could also affect the profitability of mining operations; thus, forcing miners to quit...
http://www.newsbtc.com/2016/09/27/cryptocurrency-mining-operations-may-soon-attract-taxes-in-spain/
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