I live in a country in the EU and i tried to get some information about how can i pay my taxes for my btc revenue.
Acording to my country`s legislation:
1.Bitcoin isn`t digital money.
2.Bitcoin isn`t a digital asset.
Acording to the laws,bitcoin is nothing...BUT acording to the same legislation,i`m obligated to pay taxes for all my revenues,including the income from online trading.What if all my income comes from bitcoin trading?
Do i have to pay any taxes or no?Sorry,if this questions is asked here before.
Is this ridiculous?
Okay, I do not know if you already got your answer but i will also give my answer. You will not be taxed on your bitcoin but rather tax you on your profit from it (converting btc to fiat money). So technically they don't care how much you have bitcoins but they will surely take an action when you convert it to fiat money.