Which countries and how are getting tax from bitcoin ?

in #bitcoin6 years ago

When the size of the crypto-money was over 600 billion dollars, the countries began to tax one another. International audit, tax and advisory organizations According to the KPMG survey said Turkey's status in the world:

USA: Virtual currencies like Bitcoin are considered assets / goods. The nature of the gain or loss arising from the sale or exchange of bitcoins depends on whether the virtual currency is in the hands of the taxpayer "capital.

European Union: Bitcoin transactions which are accepted as "assets or goods" currency are exempt from VAT. However, the profits earned in Bitcoin transactions may be subject to other taxation such as "capital appreciation or income tax".

Germany: Although Bitcoin is described as private money, the gains from the elimination of less than 1 year can be taxed. However, the gain on the sale of Bitcoin, which does not exceed 800 Euros or is held for more than 1 year, is exempted from tax.

UK: "Bitcoin" in the UK is considered foreign currency. The rules governing foreign exchange gains and losses also apply to "Bitcoin" transactions. However, "speculative Bitcoin transactions" may not be subject to any taxation.

Japan: Bitcoin sales are exempt from consumption tax. Virtual money is accepted as a commodity. Income from bitcoin trade is included in operating income.

Canada: Crypto currencies like Bitcoin are "commodities" such as gold, silver or natural gas. It is taxed as a commercial gain or a value gain.

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