The Taxation of Income from Cryptocurrencies in Various Jurisdictions (Part 8): Mexico

By Prof Sergio Guerrero Rosas, Guerrero y Santana, S.C.

As mentioned in the introduction of this series, in 2008 was created a new form of currency, completely decentralised and open to all, without a central bank to control and manipulate as it happens today, without any group of elite people to make decisions that affect each person who uses his coins. The cryptocurrencies are the invention of technology that we now call “Blockchain” or chain of blocks, and that allows to keep a secure global book of transactions using timestamps, with high power of decentralised computational processing and cryptography.

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The Taxation of Income from Cryptocurrencies in Various Jurisdictions (Part 5): India

By Ashishkumar Bairagra, M L Bhuwania and Co LLP

Just like many other countries around the world, India has not introduced specific tax regulations for levying taxes on income from cryptocurrencies. This situation has left taxpayers with the option to decide the nature of income, based on their perception, and offer the income for tax accordingly. Under the (Indian) Income Tax Act, 1961, incomes fall under multiple categories and are taxed based on them, thereby also allowing for deductions or exemptions available for such divisions.

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The Taxation of Income from Cryptocurrencies in Various Jurisdictions (Part 4): Germany

By Oliver Biernat, Benefitax GmbH Steuerberatungsgesellschaft Wirtschaftsprüfungsgesellschaft

Trading or private activity?

Anyone who trades bitcoins as a private individual often does not suspect that one can exercise a trade with it. In order to avoid unpleasant surprises such as accusations of tax evasion and to limit possible additional payments, interest and penalties, it is necessary to have a tax expert check this in good time and collect receipts. The border between trade and private activity is blurred. Section 15(2) sentence 1 of the Income Tax Act regulates this:

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The Taxation of Income from Cryptocurrencies in Various Jurisdictions (Part 11): Switzerland

By Marc Nideröst, Treuhand- und Revisionsgesellschaft Mattig-Suter und Partner

Cryptocurrencies remain popular despite their highly volatile development and the slump in trading prices. There are, therefore, increasing questions about their tax treatment in practice. Although the initial hype around cryptocurrencies like Bitcoin, Ethereum, and Ripple suffered a setback when trading prices fell, the currencies have made significant gains in popularity and companies are increasingly using them as payment and funding instruments.

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Harbour USA

Will the new US tax law affect your business?

By James Debate, US Tax & Financial Services Group Ltd.

Taxation is consistently described as one of the biggest concerns for businesses that are looking to expand into the US. At 35%, the US used to have a corporate tax rate that was among the highest out of the world’s developed economies. Add to that a complex tandem of federal and state regulation, and a system of global taxation on USdomiciled companies, and the result is that setting up a business in the US can be an onerous process.

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