Perspectives on the Integration of Cryptocurrencies into National Tax Legislation
AbstractABSTRACT: The treatment of virtual currencies when it comes to income tax differs as much as the definitions of virtual currencies from country to country. It depends on this definition whether the existing laws corresponding to income tax can also include virtual currencies. Most commonly, virtual currencies fall under a certain category of income and thus are taxed accordingly. Many states have also published clarifying documents on how virtual currencies fit for tax purposes and how the existing legislative framework applies to them. Very few states consider cryptocurrencies as another type of currency, complementary to the usual one, whether we are talking about domestic or foreign markets, thus including them for tax purposes. KEY WORDS: Tax system, Cryptocurrencies, legislation, regulation
How to Cite
Bălășoiu , N. . (2021). Perspectives on the Integration of Cryptocurrencies into National Tax Legislation. SCIENTIA MORALITAS - International Journal of Multidisciplinary Research , 6(1), 40-47. Retrieved from http://scientiamoralitas.com/index.php/sm/article/view/86
This work is licensed under a Creative Commons Attribution 4.0 International License.