Taxation

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.

Continue Reading

Taxation

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.

Continue Reading

Taxation

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:

Continue Reading

More Articles ...

GGI Logo 70x50px

GGI Geneva Group
International AG

Schaffhauserstrasse 550
P.O. Box 286
8052 Zurich
Switzerland

Contact

T: +41 44 2561818
F: +41 44 2561811
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.ggi.com