Crypto – what did you always wanted to know about taxation of cryptocurrencies?

November 9, 2020November 9, 2020 Michaela MerzLeave a comment

Indirect Tax

Governments with a VAT/GST regime in place would typically consider cryptocurrency and related transactions to be within that taxing regime.

Blockchain will change the VAT world like no other technology before – what do you need to know

May 15, 2017May 15, 2017 Michaela MerzLeave a comment

Blockchains are transparent and decentralised way of recording lists of transactions. Their best-known use is for digital currencies such as Bitcoin. The value of Bitcoin increased remarkably since it was launched and ceiling has not been achieved yet. There are many different ways of using blockchains to create new currencies. Hundreds of such currencies have been created in the past and new coming regulary into the market. Read More »

Crypto currencies – UK – Call for information

November 6, 2014April 10, 2017 Michaela MerzLeave a comment

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

October 6, 2014April 10, 2017 Michaela MerzLeave a comment

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 »