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Tax for mining

danielgold20danielgold20 Member Posts: 27 ✭
in Mining
Hey guys Tell me are there people here who declare regarding there mining profit?
I understand that you " need " to pay tax for the profit from mining
can anyone answer or someone who know something regarding this subject?
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Comments

  • yodiyodi Member Posts: 265 ✭✭
    in europe it s seem to be tax free , the law talk about bitcoin but not about alternative cryptocurrency , depend where you come from , check you law
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  • danielgold20danielgold20 Member Posts: 27 ✭
    yodi said:

    in europe it s seem to be tax free , the law talk about bitcoin but not about alternative cryptocurrency , depend where you come from , check you law

    Thank you for your response
    If Need we will open a firm at Europe but are you sure regarding the tax? because I know that in every country you need to pay tax
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  • yodiyodi Member Posts: 265 ✭✭
    best is to ask to a professional specialist to be sure . actually they are not considerate as a real money , so may be depend if you change it to EUR or USD ... or not
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  • rolandatsrolandats Member Posts: 17 ✭
    Actually, in Europe you do not pay tax on the generated coins but rather when you exchange the coins to flat. i.e. If you generate 10 coins but exchange only 5 into flat (Euro) then you would pay tax only on the generated income from the 5 coins you exchanged :)
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