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Big day for bitcoin in Denmark
Tax Board on Tuesday afternoon clarity on how to deal with the virtual currency bitcoin with fiscal glasses. x
The Council has determined that you do not have to pay taxes if you gain from buying or selling virtual currency.
- If one finds a gain of its Bitcoins is tax free. Just like you sell a painting , and you serve it, it is tax-free, says Chairman of the Tax Board , Hanne Søgaard Hansen continues:
- Bitcoins are not commercially motivated by a company. This means that you consider Bitcoins as a private asset.
This should not indicate his bitcoin gain in his tax return in Tax. Conversely, you are not entitled to a deduction if you lose money on a sale of its Bitcoins .
It is a request from an individual or a company that Tax Board has taken a binding decision.
See also: FACTS: Here you can learn about bitcoin
Norway is gone the other way . Here you have decided that you have to pay taxes on his Bitcoins if you buy the currency and sell them later at a higher price .
President of the National Tax Board notes , however, that there can certainly be other situations where there will be no question of the gains will be taxable
- If you are dealing with Bitcoins , one might imagine that there is a different tax situation , says Hanne Søgaard Hansen.
Tax Board has not taken a position on this issue during the meeting.
The four year old currency can be bought and sold in a number of Internet exchanges - both as object of speculation and trading currency. The currency is decentralized , which means that there are no banks or organizations who decide about it.
There are few stores and webshops in Denmark , which has taken the digital currency for themselves .
