Quote from: louise123 on May 21, 2015, 07:05:03 AM

Quote from: Kprawn on May 21, 2015, 06:49:18 AM

Well, I asked a similar question to this here ---> https://bitcointalk.org/index.php?topic=1060307.0

The answers will be different from country to country, based on their own tax laws and regulations. I am also intriqued by this and wonder how they will solve this problem.

They would most probably define it as digital currency under the current tax legislation {PayPal etc...}

^^^That.
It all depends on where you are located and how Bitcoin is seen - is considered - there.
In U.S. it is considered property.
On the other hand there are countries that do not consider it at all.

Yeah. Every country will treat bitcoins differently, but I guarantee you new laws and regulations be coming out over the next couple of years to try best tax bitcoins. If they see people are trying to avoid taxes by using or saving bitcoins they'll soon change the rules so they can get their cut or thrown you in jail.

Ruckspin

Posts

Merits