I would like to hear about the situation with bitcoin and taxes in your countries.
I think it would be interesting to hear different experiences and compare results across countries.
Of course, I understand that in some countries you can't declare bitcoin tax.
I'm not interested in these countries but the ones where it is possible to declare and pay bitcoin tax.
I will start first.
In Croatia, several years ago we received clear instructions from the tax office on how to file a bitcoin tax.
In short, we must lead FIFO and if we can prove that we held btc funds more than 2 years, than we don't need to pay tax (long term investment).
If we have kept btc funds for less than 2 years, we pay 12 % tax plus surtax.
Can you share situation in your country?
In my country India, there is no special provision regarding taxation on bitcoin. It's taxed based on the source of how you have earned bitcoins. If you are earning it as a remittance on account of your business then you are eligible to claim expenses done in this regards and file it under Profits from gains of Business and considering that you are and Individual you will be taxed at Individual slab rates which are:
| 0-250000 | NIL |
| 250000-500000 | 5% |
| 500000-1000000 | 20% |
| 1000000 above | 30% |