The head of the Dutch Supreme Court has made two decisions on whether the sale of bitcoin (BTC) has the right to become taxable under certain circumstances.
In a notice on March 30, the Dutch Supreme Court said that the party who made a profit from the sale of Bitcoin obtained through repeated purchases or donations was required to investigate the sale of Bitcoin as tax payable, adding that the purchase of Bitcoin was "from a speculative destination". In another case, the court ruled that users who mined their own bitcoins and then sold them would be subject to the same tax consideration.
Many of the Supreme Court cases involved the recycling of BTC between 2011 and 2013 and market sales between 2017 and 2018, indicating a price ratio of more than $1,000. The court cited some provisions of the country's national tax law, stressing that it was based on a post in the 2011 Bitcoin community forum, taking into account the intention of the first merchant to sell Bitcoin last.
"the Supreme Court ruled that the bitcoin received must be called the acquired property in order to develop sales in the future as an important part of the [first party] S and Bitcoin program development and business process," the ruling said. "at the time of sale, they cannot be said to have been sold as [his] personal property or property. On this basis, the Supreme Court ruled that the abandonment of received bitcoins formed revenue from non-commercial business processes. As a result, marketing will start tax time.
Coincub reported in September 2022 that income from login passwords in the Netherlands may pay a tax rate of about 37%, but it is also likely to reach 52%, depending on whether customers have high wages. This would make the levy on data encryption in the US far higher than the income tax in the US-between 0 per cent and 37 per cent, based on the sale of property owned by operators for more than a year or less and the level of income.
Magazines and periodicalsExcellent and worst countries for data encryption tax-plus data encryption tax reminder
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