I need help understanding what a "Professional Cryptocurrency Miner" is?
How does one register as a "Professional Cryptocurrency Miner" when Cryptocurrency officialy does not exist?
If I can eventually register an IT company of sorts for the purpose of mining Cryptocurrency, how do justify the NEED for a Hashing Machine for my business?
How do I file the tax return if I have all in BTC for example?
If some Professional Cryptocurrency Miner could please explain, I would be much obliged.
With regards to KNC's VAT or no VAT on their site.... Nowhere on there does it mention that VAT is not included, nor that it is not for consumers in general.
This to me is misleading and false advertising. If money had already been exchanged, KNC would be hearing from my lawyer.
Ok once again this has been discussed at length in the other thread. I also posted a link regarding the EU E-Commerce regulations as to what has to be displayed on the website two days ago.
Yes legally they have to mention whether the price does include VAT or whether it is exempt, as well as accurate shipping costs and the full amount, but then they are not requesting funds yet so they aren't breaking any laws. The site as is, is a rough draft until they are set up for and requesting payments. Although admittedly I had hoped prices were inclusive as that is generally the EU norm and should have been made clearer.
You justify the needs your your hashing machine as a means to realise gains in the future.
The virtual currency is not recognised, but the fiat once exchanged is and dependant on your local laws that is where you pay. In the UK it would be deemed, 'Capital Gains' from selling an object, virtual or not. The exact same as if I was buying and selling shares. We have a £8k threshold here before capital gains becomes payable. That would also be subject to income tax dependant on how it effects your cumulative income and local governments income taxing. Most companies do not achieve a profit in their first year as it is due to expense for equipment and set-up costs.
I would be a lot more obliging if you took the time to read threads and asked questions that furthered the thread's already answered queries;
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332