Quote from: ethereumhunter on December 01, 2016, 11:46:08 PM

Quote from: rocketloki on November 28, 2016, 12:55:35 PM

As long as we keep Bicoins as btc in our account and don't exchange them to either EUR or USD will we be liable for tax at this point?

I was just wondering if somone know about it since my CPA say no.

we don't have to pay any tax if we keep our bitcoin in our account, but if there is any regulations for some people from the other country that should pay the tax, so we must obey it. i think its not many government will make their citizen to pay any tax for keep bitcoin in ther wallet or their account. maybe if canada make regulations to pay the tax, and you live in that country, so better you pay the tax if you don't want to get in jail.

Uncertainties surrounding the use of Bitcoin and other cryptocurrencies be put to rest. In a document published on November 29, 2016, the Russian Federal Tax Service finally took position on the legality of use and Bitcoin transactions. The document explicitly states that there is no legal prohibition on cryptocurrencies.