How Developed Countries Collect Taxes on Bitcoin

During the past decade virtual currencies, such as Bitcoin, Qtum, Litecoin and Ethereum, have become increasingly popular. They are currently used as both methods for payment and investment instruments. The emergence of cryptocurrencies led to a legislative vacuum that had to be replaced by adequate regulations.

The present publication focuses on Bitcoin (by far, the most popular virtual currency) taxation. Bitcoins substitute real currencies and have a real monetary value. This means that they can be converted into US and … Read more

Can Tax Authorities Identify Cryptocurrency Owners?

Capital gains from transactions in cryptocurrencies such as Bitcoin are increasingly becoming taxable in countries worldwide. Therefore taxpayers are under the obligation to include cryptocurrency transactions in their yearly tax returns. Non-compliance may lead to serious penalties. This raises the question whether tax authorities are able to adequately identify cryptocurrency owners in order to collect the liabilities.

The anonymity issue

The main concern connected to taxation of cryptocurrencies is their traceability: virtual money are often gained, spent and traded on … Read more

Which Dubai Free Zone To Choose in UAE

Most entrepreneurs settling in the UAE are mainly concerned with what type of free zone they have to set up business in. There are many options, each with different advantages. The free zones share basic characteristics like hundred percent foreign ownership is possible and tax-free import duties. In order to choose the right company you need to ask yourself if you are going to do business in the country, what type of business will you be doing, and what … Read more

Advisory Bitcoin Business

We will advise your business in handling Bitcoin transactions

A lot of online businesses have started accepting Bitcoin payments instead of the using the generic ways of accepting payment, however, there are a lot of issues regarding banking and how to be compliant with using Bitcoin in your business. These entrepreneurs are known as a Bitcoin business.

We have the solution for the entrepreneur and not only this, we can also optimize your business to have a legally (tax-free) or … Read more