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The Agency of Denmark's activities will soon have a broader coverage of the country's cryptocurrency exchange data. An official statement revealed that the Tax Council authorized "Skattestyrelsen (SKAT), the Danish Tax Agency" to obtain information on Bitcoin and other encryption data "for the period 2016-2018.
Danish Bitcoin traders in the fiscal campaign
Skattestyrelsen (SKAT), the tax agency of the country has as its objective three exchanges of cryptocurrencies in Denmark to gather information on the customer's cryptocurrency trading between 1 January 2016 and 31 December 2018. As a result, I am in contract with the respective bags to precede the matter. In addition to their trading activities, cryptographic exchanges are expected to provide other key customer information to the tax agency, such as their names, addresses, CPR numbers, CVR information. In this way, the tax agency expects to evaluate the correct tax status of customers.
In addition, the statement states that foreign customers whose details of the encrypted transaction are available at the Danish cryptocurrency trade will exchange with the authority of the respective country. Karin Bergen, the tax director of the agency, said that;
With the permission of the Danish Tax Council, for the first time we will have access to trades made through the Danish stock exchanges. This gives us completely new opportunities in relation to control in the area
Furthermore, Karin is thrilling with the broader scope of the cryptocurrency market, she continues;
Without going too far, I think we can say that this is a big market that we have to examine.
Regulatory authorities in various countries are carefully examining the tax assessment on encryption and, as such, obtaining permission from the tax council, the Danish Tax Agency will ensure for the first time whether "citizens who have exchanged cryptocurrencies they pay the right tax ".
As early as March 2014, the highest Danish tax authority decided that "no profit on the cryptocurrency negotiations" will be counted for taxes. As a result, authorities have argued that "Bitcoin's earnings are exempt from getting taxes from the Danish government". And then, at the end of December 2018, Skattestyrelsen (SKAT) came to light "investigating 2700 Danes who secretly exchanged Bitcoins in an encrypted Finnish exchange". Meanwhile, he also revealed from "Payam Samarghandi, who is a lawyer and Bitcoin expert in Denmark, that tax authorities are considering" Bitcoin as a taxable good ".
What do you think of the calculation of taxes on cryptocurrency trading? What is your interest in Denmark's initiatives?
Summary
Item name
Denmark Task Agency which analyzes the volume of encrypted exchanges in the country
Description
The Agency of Denmark's activities will soon have a broader coverage of the country's cryptocurrency exchange data. An official statement revealed that the Tax Council authorized "Denmark Tax Agency" to obtain information on Bitcoin and other encryption data "for the period 2016-2018.
Author
tabassum
Publisher name
Coingape
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