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The Norwegian tax authority has come forth an announced that bitcoin losses are considered tax deductible in the Scandinavian country. The news comes from Hegnar Online, which has the quoted (and translated) statement:
“…believe that it should be paid profit tax of 28 percent for Bitcoins. Similarly, the loss is deductible.”
On the other hand, as you would expect, any gains earned with bitcoin are subject to taxation of the above-quoted 28 percent.
While the news isn’t entirely surprising, it does signal that more and more governments are beginning to draft legislation on digital currency and removing it from the so-called “gray area”. (via CryptocoinNews)
