|
March 06, 2018, 05:01:49 AM |
|
Almost the same as the United States, Canada is also known as one of the countries that receive the entry of Bitcoin well. The Canada Revenue Agency (CRA) has classified this digital currency as a commodity. This implies that transactions in Bitcoin are considered as barter transactions. Earnings generated by these transactions are considered as business income. Taxation Bitcoin depends on its nature. Bitcoin exchange in Canada is also subject to anti money laundering legislation (AML). In addition, the exchange is required to register to the Financial Transaction Analysis Center and Report (FINTRAC).
|