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Hi,
Is there anyone knowledgeable about what happens when I sell, say, books and accept only BTC as the payment method? Is it taxable or what? Does it count as an income, since I won't accept any actual money that governments accept?
Thank you
It is irrelevant whether or not the transaction involved fiat, any commercial activities are taxable events in most countries. Is there anyone knowledgeable about what happens when I sell, say, books and accept only BTC as the payment method? Is it taxable or what? Does it count as an income, since I won't accept any actual money that governments accept?
Thank you
In the UK, you will have to pay VAT. You can read my writing here.
https://steemit.com/cryptocurrency/@haiduong/uk-bitcoin-tax-questions-and-answers
In the US, income tax and sales tax should be applied
