Crypto-currency and taxes
Crypto currency is equated to a monetary unit, but does not have a physical expression. This type of electronic money is not tied to any country or system.
Crypto currency can not be falsified or prohibited; she is not afraid of inflation. All these advantages, as well as complete anonymity of users, make crypto currency very popular all over the world.
Despite the invulnerability of those who earn on crypto-currencies, the Internet raises the question of taxation. For example, in the US and Japan, the crypto currency is legalized, so it is possible that other countries will follow this example.
Crypto currency and taxes in the US. The theoretical side
The Congress is really puzzled by the issue of the legality of the Crypto-currency and the payment of taxes for mining. The impetus for this was the President's order of October 24, 2017, concerning the regulation of electronic money.
A draft law on digital assets is currently under preparation, and the possibility of making amendments is being considered. The government is interested in attracting additional finances to the treasury, to exclude fraud and to cut off the path to those who launder money through crypto currency.
It is assumed that from each bitcoin, a physical person will need to pay 13% of taxes. Moreover, everyone involved in mining will be required to open individual entrepreneurship and submit a tax return. Legal entities will pay the same taxes as with conventional currency transactions.
Crypto-currency and taxes in practice
Crypto-currencies are considered a special asset, a kind of "monetary surrogate", which most countries are not yet able to manage. The main difficulty for the state is that the miner is almost impossible to calculate and, moreover, to bind it to an electronic wallet.
Even if we assume that the miner was found, it is impossible to prove the involvement of this person in trading crypto-currencies.
January 25, 2018 was information about the appearance of the draft law "On Digital Financial Assets." If the act takes effect, the miners will be obliged to step out of the shadow to pay taxes on the crypto currency. Those who escape from the legalization of activities will begin to calculate.
What will happen with the history of taxation kriptovalyut, time will tell. Meanwhile, everything remains the same. However, even if the bill is adopted, then the miners will most likely pay taxes only when making calculations by crypto currency.