Are you an European Union citizen or resident? If yes, when are you declaring your cryptocurrency profit?
1) Everytime I have a profit
2) If profit greater than e.g. 5,000 EUR
3) I don't declare profits
If 1), when do you this declaration? at the end of one year? every month?
If 3), did the tax office knocked your door to ask about the unusual deposits in your bank account?
Thanks!
In EU, the relating tax treatment of bitcoin for tax purposes differ depend on each EU country. However, purchasing and selling bitcoin does not incur VAT but bitcoin transactions may be subject to other taxes, such as income tax.