Tag: tax

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    Polish Tax Man Says Bitcoin Mining Profits Subject to VAT

    Mining bitcoins or other digital currency in Poland? You may be required to pay a value-added tax (VAT). That’s according to CoinDesk, who says the decision was made by tax official’s in Poland’s third-largest city, Łódź. Said decision was made in response to an inquiry from a bitcoin miner in...

    Jayanand Sagar | May 27, 2014 | 8:20 am
  • Spanish Tax Agency Monitoring Bitcoin For Illicit Use

    It is being reported that the tax authority in Spain, Agencia Estatal de Administración Tributaria, is actively monitoring the bitcoin space to ensure that the digital currency isn’t being used for crimes like money laundering, drug trafficking, and tax evasion. This is according to a report from RTVE, who...

    Jayanand Sagar | May 23, 2014 | 10:47 am
  • Australian Tax Office Preparing Bitcoin Tax Guidance

    The Australian Tax Office (ATO) is poised to prepare tax guidance for users of bitcoin and other digital currencies, reports indicate. Officials at the tax authority have made the decision to meet with what has been described as “key figures” in the bitcoin/crypto industry in Sydney on Tuesday....

    Jayanand Sagar | April 30, 2014 | 1:50 pm
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    IRS: BTC Should Be Treated as Property For Federal Tax Purposes

    Just in time for the income tax filing deadline comes a news release from the Internal Revenue Service (IRS) regarding the taxation of bitcoin and other digital currencies. In short, the notice states that virtual currency shall be treated as property for federal tax purposes in the United...

    Jayanand Sagar | March 25, 2014 | 2:25 pm
  • HMRC of United Kingdom Issues Tax Brief on Bitcoin

    Just one day following reported that tax authorities in the United Kingdom would be dumping a tax on bitcoin trading, HMRC (Her Majesty’s Revenue & Customs) has issued tax guidance on bitcoin and other cryptocurrencies. Some interesting points: HMRC will exempt bitcoin mining income because “there is an...

    Jayanand Sagar | March 3, 2014 | 12:36 pm
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    Australian Taxation Office Slated to Provide Tax Guidance

    Australia’s tax authority is slated to provide tax guidance for users of bitcoin and other “alternative payment systems” before June 30th, according to a statement provided by the Australian Taxation Office’s (ATO) senior assistance commissioner Michael Hardy on the Financial Review‘s Channel 9 program on Sunday. “The ATO is...

    Jayanand Sagar | February 10, 2014 | 1:37 pm
  • UK Treasury Officials Reportedly Studying How to Tax Bitcoin Trades

    Officials at HM Treasury are reportedly studying how to tax bitcoin trades, it is being reported. The kick in the rear comes from Karl McCartney, member of parliament, who asked what the country is doing in terms of financial regulation of the emerging would of digital currency. McCartney...

    Jayanand Sagar | February 4, 2014 | 11:01 am
  • Sweden Rejects Bitcoin as a Currency, May Classify as an Asset Instead

    The Swedish Tax Agency is reportedly set to reject bitcoin as a currency, treating it tax-wise as an asset, like a rare artwork, or other valuable like an antique. “Currencies are traditionally tied to a central bank or a geographic area,” said Olof Wallin, an official at the...

    Jayanand Sagar | January 22, 2014 | 12:09 pm

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