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  • CB
  • 10:26 08.08.2017
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Category: Tech/Web


How to get taxed for my crypto income?(European Union)

I want to make a dropshipping eshop that will accept only altcoins.Have i to pay taxes or altcoins aren 't money but goods?


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53 Answers

  • Zenzolina
  • 12:04 08.08.2017

Cryptocurrency is not considered to be money by EU regulations therefore you are not required to pay any taxes. Best regards.

  • okrodri
  • 19:04 08.08.2017

https://en.bitcoin.it/wiki/Tax_compliance
There is some info about taxes for bitcoin and I suppose it applies to all cryptocurrency. If I have to give my opinion, I believe you won't need to pay taxes. Good luck!

  • BQuinnTrotter
  • 20:46 08.08.2017

Acording to the EU at this moment in time, it is not considered to be a true currency
and there are no taxes to be paid
https://www.google.ca/amp/s/www.cnbc.com/amp/2015/10/22/bitcoin-now-tax-free-in-europe-after-court-ruling.html

However, a great deal of effort is being put into it being taxable, and then attempt to regulate digital currencies and exchanges. (Ie various policies imposed on exchanges and) wallet providers
https://news.bitcoin.com/specifically-eu-us-intend-tax-bitcoin/

  • Davidgerits
  • 05:02 09.08.2017

if you are going to exchange the crypto currency to euros they could see it as money laundering so you should start a legitimate company with your income being how much you make in euros. if you keep the crypto currency on the other hand, they can't ask you to pay any taxes because you aren't making real money.
hope this helps ;)

  • abdu
  • 17:39 09.08.2017

You don't need to pay taxes for any crypto currency. Cryptocurrency is a free and open source currency that answers to no middle man/Government

  • Homegarg12
  • 21:46 10.08.2017

No you don't need to pay any taxes as the amount in altcoins must be the final amount.

  • Lagarto1983
  • 05:29 11.08.2017

https://steemit.com/bitcoin/@lifebyadam/bitcoin-altcoins-and-taxes
There is some info about taxes for bitcoin and I suppose it applies to all cryptocurrency. If I have to give my opinion, I believe you won't need to pay taxes. regards

  • Nirzak
  • 12:45 13.08.2017

Cryptocurrencies are online encrypted currencies and all transactions are encrypted.So,No tax will be applicable.In fact Noone knows the real identity of senders here.So,You are not required to pay a any texes here.

  • paraleonline
  • 17:28 13.08.2017

For the EU, the Wild West days of bitcoin are over. 2017 will be the year of bitcoin regulation and taxation during which individuals need information and caution.

  • rash
  • 18:15 13.08.2017

Tru exchanges and wallet providers, coz they are easier to detect and to regulate, hope this helps

  • Carobtc
  • 18:24 13.08.2017

Hi, you have not pay taxes whith altcoin

  • Airing
  • 02:16 14.08.2017

No you don't have to pay any taxes.

  • tino1971
  • 06:39 15.08.2017

for germany law as far as i know, if you exchange bitcoin into euro within 1 year then must pay tax. if more than 1 year then tax free. I think in general if fiat not involved in your business then no need to pay tax. Final suggestion is to ask more info at your local tax afministration office which will be the official answer.

  • 3derp5you
  • 20:07 15.08.2017

No, you do not have to pay any taxes to the EU. You might have to pay them to your country, but a quick Google search should help you out.

  • ljr
  • 16:37 19.08.2017

As of now, there is no general EU taxation for cryptocurrencies and specifically Denmark is the only country in EU officially declared all block chain cryptocurrencies are tax-free.

  • pntec12
  • 19:20 21.08.2017

it is 0 tax

  • Snehal Ghosh
  • 12:40 22.08.2017

No

  • lightJo
  • 18:20 23.08.2017

You are not required to pay taxes on Crypto.

  • mannu933
  • 15:25 25.08.2017

You can not pay altcoin to pay your tax..

  • Dirtyundead
  • 00:04 27.08.2017

You don't need to pay taxes for any crypto currency. Cryptocurrency is a free and open source currency that answers to no middle man/Government

  • BITCOINS
  • 11:23 27.08.2017

why you needs to pay tax if you are dealing in coin markets even u can pay but it depend on ur contacts with politics

  • sexcalibur
  • 09:55 01.09.2017

The European Union does not regard crypocurrency as income. Yet. So you dont need to pay taxes yet. It is impending investigation.

  • bavan
  • 04:19 02.09.2017

You don't need to pay taxes for any crypto currency. Cryptocurrency is a free and open source currency that answers to no middle man/Government

  • briezzman
  • 02:05 03.09.2017

no , you do not pay any tax since cryptocurrency is not considered to be money

  • martin190677
  • 07:17 03.09.2017

For the EU, the Wild West days of bitcoin are over. 2017 will be the year of bitcoin regulation and taxation during which individuals need information and caution.

  • ducky
  • 13:36 05.09.2017

:D

  • abobody
  • 05:16 07.09.2017

where do you live?
every country had one

  • dwin
  • 11:16 07.09.2017

satoshi no tax...,peer to peer system n it's decentralized digital currency and blockchain....

  • arieve
  • 16:35 08.09.2017

For as far as I know there isn't an EU-wide stance on this topic. However, you are talking about a business, which means the bitcoins will be an asset or liquidity in your accounts, depending on the accounting rules of your country. Hence the normal taxation rules apply regarding assets and liquidity.

  • kishan
  • 11:08 09.09.2017

Acording to the EU at this moment in time, it is not considered to be a true currency
and there are no taxes to be paid
https://www.google.ca/amp/s/www.cnbc.com/amp/2015/10/22/bitcoin-now-tax-free-in-europe-after-court-ruling.html

However, a great deal of effort is being put into it being taxable, and then attempt to regulate digital currencies and exchanges. (Ie various policies imposed on exchanges and) wallet providers
https://news.bitcoin.com/specifically-eu-us-intend-tax-bitcoin/

  • rams4488u
  • 10:44 10.09.2017

There is no need to pay taxes

  • Sandrinus8
  • 23:20 10.09.2017

You don't have to pay taxes for crypto money shopping

  • EarnDaily1BitCoin.blogspot.com
  • 10:47 13.09.2017

not necessary to pay taxes

  • pedroyoales
  • 00:22 14.09.2017

https://www.paxum.com/

  • Byke
  • 00:43 16.09.2017

Cryptocurrency is a free and open source currency that answers to no middle man/Government

  • xon1234
  • 00:06 19.09.2017

No taxes are to be paid

  • jamestutica
  • 09:47 19.09.2017

if you are going to exchange the crypto currency to euros they could see it as money laundering so you should start a legitimate company with your income being how much you make in euros. if you keep the crypto currency on the other hand, they can't ask you to pay any taxes because you aren't making real money.
hope this helps ;)

  • Dabitcoin10
  • 16:31 19.09.2017

Cryptocurrency is not considered to be money by EU regulations therefore you are not required to pay any taxes. Best regards.

  • Mayega
  • 02:31 24.09.2017

hello on the EU bitcoin and other cryptocurrencies are not considered as legitimate currency and it does not pay VAT. but you may pay some other tax depending on the country in the EU.

  • Sinahogan
  • 15:46 24.09.2017

You should pay tax on the actual money you make. Once the money goes into your bank account that would be seen as earnings. In the case of bitcoin it's like shares and you would pay tax on the gain you make on that (in Ireland anyway)

  • dcarloscj
  • 18:29 07.10.2017

Cryptocurrency is not considered to be money by EU regulations therefore you are not required to pay any taxes. Best regards.

  • 3xbtc.tk
  • 13:27 13.10.2017

whenever you withdraw crypto into bank account as in euros then you will be taxed as per regular income! better to ask your itax consultant.

  • matbar
  • 18:43 16.10.2017

It is not considered a currency at this point, therefore you won't be taxed. However, many countries start to realize that there is a lot of potential tax money not being collected, so one can expect that there will be tax regulations in the future.


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