The Resource Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin

Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin

Label
Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin
Title
Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin
Creator
Subject
Language
eng
Summary
The exponential growth of bitcoins has led the tax authorities to the need to strengthen its tools for monitoring transactions related to virtual currencies, and the General Directorate of Taxes to pronounce (although sparingly) on its taxation. With regard to direct taxation, income derived from the sale and mining of bitcoins will be taxed as income from economic activities in Personal Income Tax (or, where appropriate, as capital gains/losses) or as income for Corporate Income Taxes purposes. From a VAT point of view, the purchase and sale of bitcoins is considered a subject and exempt activity, whereas the mining of bitcoins would not be considered as a provision of onerous services in the sense of the jurisprudence of the European Court of Justice. Concerning the Business Activity Tax, such activities should be included, as a general rule, under heading 831.9 of section one "Otros servicios financieros n.c.o.p." and, in the area of Wealth Tax, bitcoins should be declared at their market value on 31 December of each year. Finally, with respect to model 720, the Draft Law on Measures for the Prevention and Combating of Tax Fraud expressly provides for the obligation to report on the holding of virtual currencies located abroad
Citation source
In: Crónica tributaria. - Madrid. - (2019), no. 171 ; p. 183-194
http://library.link/vocab/creatorName
  • Miguel Hernando, D. de
  • Rodríguez Castillo, M
  • Taylor, M
Geographic coverage
  • European Union
  • Europe
Language note
Spanish
http://library.link/vocab/subjectName
  • virtual currency
  • blockchain
  • digital economy
  • capital gains
  • capital loss
  • tax authorities
  • individual income tax
  • corporate income tax
  • ECJ case law
  • wealth tax
Label
Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin
Instantiates
Publication
Label
Consideraciones tributarias generales sobre el Bitcoin = General tax considerations on the Bitcoin
Publication

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