[2016-09-06] Italian authorities seek to tax bitcoin assets

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Topic: [2016-09-06] Italian authorities seek to tax bitcoin assets (Read 426 times)

smartgerman (OP)

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[2016-09-06] Italian authorities seek to tax bitcoin assets

September 06, 2016, 02:57:39 PM

Italian authorities seek to tax bitcoin assets
The Italian Revenue Agency has drafted a proposal on the introduction of tax in respect of assets in cryptocurrency. It implies paying taxes on bitcoin surplus value in case of the value growth.
http://www.coinfox.info/news/6367-italian-authorities-seek-to-tax-bitcoin-assets

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richardsNY

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Re: [2016-09-06] Italian authorities seek to tax bitcoin assets

September 06, 2016, 10:01:48 PM

For me personally paying tax over Bitcoin is nothing new as it is something that is part of my total net worth. It's a set rule. That however doesn't mean I am really paying tax over my coins. I simply don't declare any of my Bitcoin holdings. I am sure 99% of the people don't declare anything as well. It will be the same in Italy.

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Re: [2016-09-06] Italian authorities seek to tax bitcoin assets

September 06, 2016, 11:14:55 PM

Isn't this the case in most countries already? It certainly is in the Uk at least. I lived in Italy for a year or two. Tax evasion is one of their national sports. Businesses use estate cars instead of vans to avoid being pulled and searched and the tax man has his own police force. I'm sure they'll love what Bitcoin can do if they ever get into it.

pitham1

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Re: [2016-09-06] Italian authorities seek to tax bitcoin assets

September 07, 2016, 04:37:03 PM

Quote from: smartgerman on September 06, 2016, 02:57:39 PM

Capital gains are taxable in most countries, albeit at reduced rates.
The Italian Revenue Agency has just stated the obvious in black and white.

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Re: [2016-09-06] Italian authorities seek to tax bitcoin assets

September 07, 2016, 09:37:24 PM

"The document also suggests no tax for individuals on cryptocurrency purchase and sale transactions, if they are not carried out for speculative purposes."

knock...knock...knock... i am trading with bitcoin and should pay may TAX Wink