Indirect Tax
Governments with a VAT/GST regime in place would typically consider cryptocurrency and related transactions to be within that taxing regime.
Crypto – what did you always wanted to know about taxation of cryptocurrencies?
Tag: crypto
Crypto currencies – UK – Call for information
Britain’s overall position on crypto currencies can be described as liberal and progressive. London is Europe’s biggest financial hub and the government has tried to stay ahead of the curve in terms of regulations and business-friendly policies. Chancellor George Osborne announced a new initiative to explore the potential role of crypto currencies in Britain’s economy and also commissioned a report on the risks and benefits of embracing crypto currencies in August this year: Read More »
USA – tax regulation of bitcoins and other crypto currencies
IRS (internal revenue service), the US tax authority, published this year (March 25, 2014) a clear guidance (Notice 2014-21) on how the tax principles apply to transactions involving bitcoins and other crypto currencies. It is not a new law but just an interpretation of how the existing law should be applied to the new technology. It describes how Bitcoin and other crypto currencies transactions should be taxed. Read More »
Michaela Merz 