Post
Topic
Board Legal
Re: Declaring profits in the European Union
by
aleeis
on 29/12/2017, 02:52:26 UTC
It is funny to see this. We must understand what the taxes for using BTC is?

There are always taxes if you have a profit, no matter if the profit comes from a an exchange of Bitcoin to Euro, gold, a tomato or a bet in Bwin. So that's the reason of my question. If you're a EU citizen or resident and have done this, it would be helpful to share your experience.

Thanks!
I'm resident, but this is new experience for me too. I see here great misunderstanding close to the nature of the taxes. It is time to remaind about the reasons of every taxes we must pay. We need to get  more strongly definitions of the most important conceptions: "profit", "taxable trade", "VAT",  and so on... At a moment I do not know any string in the EU income declarations with strictly specific rule about mining cryptocurrency as a profitable, taxable business. There are a lot of the game online with similar actions... this is problem to sort it and create logical concept for the cryptocurrencies make taxable.
Thank you.