Crypto-currencies: tax payment concerns

Crypto-currencies: tax payment concerns

Crypto-currencies are revolutionizing the world. The generation is licking its chops. But currency it is, texts must govern its use. In the lines to follow, the issue of taxes in the field of crypto-currencies will be addressed.

The payment of taxes remains an uncertainty for the moment

Crypto-currency can be traded with our usual currencies and also play the same roles. You are probably wondering if taxes do not apply to this currency then. By going through all about how to make money with cryptocurrency, you will understand better. Crypto-currency can be used to invest as well as to buy your child a yogurt pot in the shop next door. Currently, not released by the bank, there are no rules stipulating the payment of taxes on these currencies. In addition, during the last few years, the tax network has been focusing more and more on crypto-currency transactions, and any individual or legal entity offering or requesting crypto-currency is often asked for information by the tax agency. So by then, the tax authorities will have a possession of all the crypto currency players on the European territory. For now, there is no question of any tax on crypto-currency transactions.

Search to understand crypto currency taxation

Naturally you would need to know what to expect when you are in possession of and handling crypto-currencies. Financially speaking, the European Union has not yet devised any status in relation to this currency. However, the Directorate General of Taxes (DGI), when consulted, displays the taxation of transactions in special cases. Also, as this currency is not used to directly purchase goods and services, there was no reason to apply taxes against it. The lack of regulation of the crypto currency could become a source of confusion in terms of the taxes to be paid and moreover in its use in the European Union.

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