Private loans in bitcoins and the Dutch law

[jim667]

Hi guys!

I am an expat living in the Netherlands. I don't speak Dutch (google translate and English-speaking locals for the win!), but I pay my taxes here.

How do I find out if I have to pay taxes off the small private bitcoin loans that I am giving? Will I go to jail for not disclossing the 100BTC loan and 10BTC I received in interest last year? Is there any website/document etc. about that? Please point me in the right direction - anything is appreciated.

If it turns out that the problem is more universal, I am willing to contribute some coins towards an open access paper which would answer these questions.

Thanks,
Jim

P.S. I am very sorry if this is a wrong subforum to post this question.

[aadje93]

Hello, this is kind of wrong subforum (its a dutch speaking subforum)

but to help you out:

http://phedny.wordpress.com/2012/09/05/bitcoin-en-belastingen/

You need to report bitcoin incomings as BTW As you are giving a "loan" to the person (a service) and getting income from that.

And you need to report bitcoins in your possesion as "income" in BOX 3 of the system.

If i helped you, spare some coins (adress in sig)

[Stephen Gornick]

If it turns out that the problem is more universal,

Actually, most tax issues are relative to your specific jurisdiction(s).  And taxes on interest on loans is likely treated the same whether you are paid the interest in euro, gold, bitcoins or tulip bulbs even.

There is an article on the general tax topic though in the Bitcoin wiki:
 - http://en.bitcoin.it/wiki/Tax_compliance

[jim667]

You need to report bitcoin incomings as BTW As you are giving a "loan" to the person (a service) and getting income from that.

And you need to report bitcoins in your possesion as "income" in BOX 3 of the system.

Thanks a lot for the answer, however, the site does not treat the subject of interest. I am not sure that giving a loan
is the same thing as performing a service. I will try to research a bit more on that..

[jim667]

If it turns out that the problem is more universal,

Actually, most tax issues are relative to your specific jurisdiction(s).  And taxes on interest on loans is likely treated the same whether you are paid the interest in euro, gold, bitcoins or tulip bulbs even.

There is an article on the general tax topic though in the Bitcoin wiki:
 - http://en.bitcoin.it/wiki/Tax_compliance

By "universal" I meant that possibly more people are in my situation - living in the Netherlands, not speaking Dutch and actively participating in the bitcoin economy. Thanks for your reply in any case, now I know there is a wiki page to post my findings on.

[wasta]

The other certain thing besides death is called belasting(en)
 This is a good piece.
Cut and paste the link's content in a translator (google).

Sorry jongens, maar ik snap de topic starter wel.
In het Engels zou hij niet snel zijn antwoord hebben gekregen.

http://phedny.wordpress.com/2012/09/05/bitcoin-en-belastingen/

...kan die nu weer verder in het Nederlands.

[sd]

Hi guys!

I am an expat living in the Netherlands. I don't speak Dutch (google translate and English-speaking locals for the win!), but I pay my taxes here.

How do I find out if I have to pay taxes off the small private bitcoin loans that I am giving? Will I go to jail for not disclossing the 100BTC loan and 10BTC I received in interest last year? Is there any website/document etc. about that? Please point me in the right direction - anything is appreciated.

If you want to know about tax ask people who do tax as a profession. Don't trust any tax advice given on here. Doubly so if you are a US citizen as the US loves to double tax.

Don't you have an accountant already? You said you were an ex-pat.

In my professional experience AAME.nl are knowledgeable and professional, but not really quick ( nothing Dutch is ever quick ) and not cheap. You should talk to them if you really care about getting it right.