Bitcoin Taxes And Other Digital Currency

 Bitcoin tax. Villanova University in America, published an article related to taxes for virtual currency, including Bitcoin. Currently, Bitcoin has become increasingly prominent in the global economy. To transact with ease without the complicated requirements, users can make more comfortable. 

 In the article, the virtual currency such as Bitcoin, must be reported on the tax form. So it can be a source of tax revenue. Although Bitcoin currency is not valid in the United States. But the IRS, consider this digital currency as a commodity. 

 Precisely on March 25, 2014, the IRS published a manual on digital currency. Based on the IRS instructions, including digital currency Bitcoin, is regarded as a commodity, because the virtual currency can be regarded as a capital asset. Although the bitcoin for example, does not have major publishers on virtual currency. 

 The use of this virtual currency, the IRS can operate like a currency. So activities that use virtual currency that can be taxed. Related to the payment of wages of employees who use virtual currency though, the IRS considers it can also attach the W-2 tax forms. In accordance with the rules applicable to income tax in America. 

 In fact, the application is not easy. Because users bitcon is not easy to determine. And second, is related to the legality of virtual currency. Even if there have been approaches that interpret it as a commodity. 

 In this case in the US for example, the IRS also would also contrary to the central bank. While the Central Bank in the US considered Bitcoin is still potential to undermine the monopoly of their Fiat currency (dollars). 

 Then how in Indonesia? You could say his condition is the same. But in Indonesia there was no clear regulations about this. Slightly different from the US which has been regarded as a commodity by the IRS. Precisely because there is still no clear regulation that is the "winds of heaven" for Bitcoin users in Indonesia. 

 In the UK and Europe, for example, has been trying to provide clear rules to companies that are within the scope of virtual currency such as Bitcoin stock exchange and other cryptocurrency. You do this by trying to minimize the anonymity of the service users in the company. Because of the efforts made, of course, will be tipped to attract tax virtual currency to users