I have been trying to read the document with an online translator and it is difficult to understand it properly.
Is it without doubt that all profit generated by an individual who has sold bitcoins is absolutely tax-free? No income tax or capital gains tax? No VAT? No hidden taxes?
I am Danish, and have a hard time understanding it!
My layman gist of the entire story: Some guy read and misunderstood the document and posted about it somewhere. Some journalist read it and made a story about it. Some journalist read that and made a story about it. Rinse and repeat.
This is how half of what you read in the media come into existence.
In particular it states:
Såfremt virksomheden anses for en hobbyvirksomhed eller anden ikke-erhvervsmæssig virksomhed omfattes indkomstårets realiserede nettogevinster ved anvendelse af Bitcoin efter SKATs opfattelse af statsskattelovens § 4 som skattepligtig indkomst for spørger personligt.
meaning: If the company is a 'hobby company' or otherwise a non-business company (read ordinary guy) the income realized by increased Bitcoin prices are according the the Danish tax authorities subject to taxation as normal income tax. (we are talking abut 50% here)
The ruling is under the assumption that Bitcoin is a payment network only <-- wrong
They also mention several times that using Bitcoin for payment is futile as you have to use a bank on both ends anyway <-- wrong
They also mention several times that if your business does anything that could resemble speculation then the ruling does not apply. (most of us do that)
Before you move to Denmark, please realize that Denmark is a country where there is practically a tax on farting. We have the highest taxes in the world, and Bitcoin is not likely to be an exception.
TL;DR
Some guy read and misunderstood the document and posted about it somewhere. Some journalist read it and made a story about it. Rinse and repeat.
This is how half of what you read in the media come into existence.
