Income received in virtual currency, including bitcoin (gains from the transfer of property, salary income, business income), is taxed according to similar principles as income received in traditional currency. When taxing income, the purchase and sale price of virtual currency or the received income must be recalculated into euros based on the virtual currency exchange rate (market price) valid on the date the income was received or the expense was incurred.
When you receive income from the price change of virtual currency by buying and selling/exchanging virtual currency
The Tax Board's guide according to this, it must be declared like any other asset, i.e. the profit from the purchase and sale price is taxed. All income is declared in euros in Estonia. It seems simple at first, but there are more nuances here. If you do not convert virtual money into so-called "real money", but constantly buy and sell something, then it behaves more like "real money". In this case, it can be very difficult to identify the profit and the tax office does not have clear instructions. Since virtual currency is treated as property within the meaning of the Income Tax Act, losses from it are not taken into account for taxation purposes. These losses are borne by the person himself, but the income tax on the profit must be declared and paid.
When you get paid for the work done in virtual currency
The Estonian employer must convert the wages paid in virtual currency into euros based on the market price and withhold the wages paid and pay labor taxes. It is declared by an accountant and does not result in additional tax liability. According to the instructions of the Tax Office, "The use of income received in virtual currency already taxed as wages for the purchase of various goods or services no longer entails additional tax liability." What can be interpreted, if the rate of virtual money rises and this virtual money is used to purchase goods and services, then income tax does not have to be paid on such a profit from the rate.
Aitame parimad lahendused üles leida
Olgu praegu kehtivad seadused milliseid tahes, oma ala spetsialistid suudavad siiski igale murele lahenduse leida. Raamatupidamisbüroo Grow on suunatud innovaatiliste lahenduste kasutamisele ja meile ei ole võõras raamidest väljaspool mõtlemine. Kui sul on esialgu keerukana tunduvaid erisoove, võta meiega ühendust ja leiame üheskoos lahenduse.
