Mark Mason
Well-known member
Various Cryptocurrency Tax Policies Causing Confusion Around the World
Tax policies from governments around the world are a hodgepodge of ideas, some good and some bad, that are leaving cryptocurrency users confused.
Recently, France changed its classification of crypto to “moveable property” and thus the tax rate for many cryptocurrencies decreased from as high as 45% to 19%. Previously, cryptocurrency gains were considered as “industrial and commercial profits or non-commercial profits” and they still are for many miners. However, after the reclassification, one tax lawyer said that French authorities actually “can not justify the principle of taxation resulting from its exchange with another cryptocurrency”. The tax lawyer justifies the claim by arguing that many individuals exchange currencies via a third party when traveling and do not pay capital gain/loss taxes on the profit/loss and cites the 2015 statement by the Court of Justice of the European Union that “bitcoin has no other purpose than that of means of payment”.
Read more: https://www.dashforcenews.com/vario...-policies-causing-confusion-around-the-world/
Tax policies from governments around the world are a hodgepodge of ideas, some good and some bad, that are leaving cryptocurrency users confused.
Recently, France changed its classification of crypto to “moveable property” and thus the tax rate for many cryptocurrencies decreased from as high as 45% to 19%. Previously, cryptocurrency gains were considered as “industrial and commercial profits or non-commercial profits” and they still are for many miners. However, after the reclassification, one tax lawyer said that French authorities actually “can not justify the principle of taxation resulting from its exchange with another cryptocurrency”. The tax lawyer justifies the claim by arguing that many individuals exchange currencies via a third party when traveling and do not pay capital gain/loss taxes on the profit/loss and cites the 2015 statement by the Court of Justice of the European Union that “bitcoin has no other purpose than that of means of payment”.
Read more: https://www.dashforcenews.com/vario...-policies-causing-confusion-around-the-world/
