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News: Welcome to eMoneySpace! May 21, 2019 07:33 AM




Investors to Pay Capital Gains and Income Tax on Bitcoin Investments
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Author Topic: Investors to Pay Capital Gains and Income Tax on Bitcoin Investments  (Read 140 times)
reviewexpert
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Jan 24, 2019 06:54 AM

The U.K. government has said that individual investors will be liable to pay capital gains tax each time they sell crypto assets such as BTC for profit. In new taxation guidelines published Dec. 19, Her Majesty’s Revenue and Customs (HMRC) also stated that digital assets received from employers in lieu of cash or gained from mining activities and airdrops will be taxed in line with existing income tax and national insurance contribution laws.

Burdening Crypto-Assets Case by Case

UK Investors to Pay Capital Gains and Income Tax on Bitcoin Investments

Governments all through the world are attempting to capitalize on the flourishing blockchain and digital money industry by means of a scope of individual and corporate expense measures. The most recent HMRC tax collection structure bars British advanced resource organizations and organizations and "does not expressly consider" those tokens held by people for business purposes.

“The tax treatment of crypto-assets continues to develop due to the evolving nature of the underlying technology and the areas in which crypto-assets are used,” explained the revenue collector. “As such, HMRC will look at the facts of each case and apply the relevant tax provisions according to what has actually taken place (rather than by reference to terminology),” it added.
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Kipoewe
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Reply #1: Feb 05, 2019 01:12 PM

And what about taxation on crypto gambling winnings? Just finished reading icopulse bitcoin casinos blog and it seems to me that when it comes to crypto casinos, they are quite fair to gamblers so obviously, you can win if you are lucky enough. So should I pay taxes from the money I won?
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