Bitcoin is ...nothing,acording to my country`s laws. - page 4.

olushakes

sr. member

Activity: 476

Merit: 254

Quote from: davis196 on July 29, 2017, 07:09:59 AM

I live in a country in the EU and i tried to get some information about how can i pay my taxes for my btc revenue.
Acording to my country`s legislation:
1.Bitcoin isn`t digital money.
2.Bitcoin isn`t a digital asset.
Acording to the laws,bitcoin is nothing...BUT acording to the same legislation,i`m obligated to pay taxes for all my revenues,including the income from online trading.What if all my income comes from bitcoin trading?
Do i have to pay any taxes or no?Sorry,if this questions is asked here before.
Is this ridiculous?

There is a absolutely nothing you can do about it at the moment but to stay away from trouble, you can pay an amount you willingly want to pay to the tax authority because the status of bitcoin in most countries will start to change from "nothing" to something in which they might want to go back and do tax investigation in which at this time might be difficult for you to meet with the amount levied.

cpfreeplz

legendary

Activity: 966

Merit: 1042

They're probably just really behind on the times and haven't made specific laws for cryptocurrencies yet. This is a very 2012 problem. To be safe, pay the taxes you believe you owe. If you don't you'll have to pay th later when they find out.

Blocken

member

Activity: 70

Merit: 10

Crypto Lobbyist

Lucky you.

If you convert to fiat, pay regular income tax on that.

Done.

Haiduongbg

newbie

Activity: 121

Merit: 0

Where are you from? We can only help if we know where you're from. The easiest way is to contact your tax authority for clarifications

davis196

hero member

Activity: 3164

Merit: 937

I live in a country in the EU and i tried to get some information about how can i pay my taxes for my btc revenue.
Acording to my country`s legislation:
1.Bitcoin isn`t digital money.
2.Bitcoin isn`t a digital asset.
Acording to the laws,bitcoin is nothing...BUT acording to the same legislation,i`m obligated to pay taxes for all my revenues,including the income from online trading.What if all my income comes from bitcoin trading?
Do i have to pay any taxes or no?Sorry,if this questions is asked here before.
Is this ridiculous?

Topic: Bitcoin is ...nothing,acording to my country`s laws. - page 4. (Read 2851 times)