First tax related to crypto coins declared

First tax related to crypto coins declared

Revenue administration has decided to inherit bitcoin. Accordingly, bitcoin successors will be able to acquire bitcoins by submitting a manifesto and paying taxes.

Bitcoin and in general Law on cryptocurrency It is not yet completely decided. Almost every country takes different decisions on this matter. For example, countries such as Russia and China consider cryptocurrencies to be virtual assets.

East Finance, Capital Markets Board and Central BankEvaluated on how to classify cryptocurrency. As the issue of how cryptocurrency will be deployed continues to be debated, it cannot be determined which laws to evaluate.

No tax without naming:

Legally for something Type determination Of course. Commodities, securities, and even foreign exchange transactions, which we often hear about in the economy’s bulletins, which actually mean “good to sell” are taxed in various ways.

Currently the category of cryptocurrency is controversial. CMB, Ministry of Finance and Central Bank Have differences. On the other hand, it was recently stated that bitcoin may tax mainly cryptocurrency.

Bitcoin Inheritance and gift tax Within the scope of It was decided how to handle it. The decision taken on the subject was made by the Professor of Accounting at Bahseer University. Dr. Fatma Ulukan k Zakul shared on her Twitter account.

Inheritance and inheritance tax for bitcoin

Bitcoin

Prof. Dr. Zakul on Twitter “Under the ambit of inheritance and gift tax, # bitcoin inheritors can pay tax by giving a declaration, and in the event of not submitting the declaration, the entity holding the bitcoin With 5% stop And the balance to be paid to the heirs was deemed appropriate by the Revenue Administration. “ Used expressions.

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Unless there is a legal framework, a law is framed. The state of cryptocurrency, especially bitcoin It seems that this will remain the subject of discussion. What do you think bitcoin: money, commodity or securities?

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Seth Grace

About the author: Seth Grace

Seth is an all-around geek who loves learning new stuff every day. With a background in Journalism and a passion for web-based technologies and Gadgets, she focuses on writing about on Hot Topics, Web Trends, Smartphones, and Tablets.

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