Perspectives on the Integration of Cryptocurrencies into National Tax Legislation

Authors

  • Narciz Bălășoiu Academy of Economic Studies, Faculty of International Business, Bucharest, Romania

Abstract

ABSTRACT: 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

Published

2021-07-25

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://www.scientiamoralitas.com/index.php/sm/article/view/86