Investments in digital currencies have attracted the attention of the belgian tax authorities. Several investigations have been open with people in belgium, which operated on the market of crypto-currencies abroad. Anyone who speculates about the virtual currency, should pay a tax of 33 % on its gains, despite the fact that the Bitcoin and other crypto-currencies are not yet regulated or legalized in the country.
Source : Pixabay. The belgian tax authorities carry out an investigation on the investors of crypto-currencies.
Three cases are the subject of an investigation by the belgian authorities
The special inspection of taxes (STI) is currently studying at least three different cases concerning belgian investors operating on the market of crypto-currencies. A fourth case was abandoned. According to local media, the investigation began after officials in belgium have been warned by colleges foreign.
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De Standaard and Het Nieuwsblad wrote that the belgian tax authorities turned their attention to the people investing in crypto-currencies. Anyone who operates in the market of the virtual currency is subject to a tax of 33 % on earnings and must be reported in the category “other income” at the end of the year. The new rules, however, have proven difficult to implement, as reported in the Brussels Times. The management of the assets of crypto-currencies on trading platforms and foreign authorities have difficulties in penetrating this market.
A taxation without legislation
Earlier in the year 2017, the media reported that Belgium was going to toughen its regulations on crypto-currencies. Officials in belgium have clearly declared themselves to be favourable to the strengthening of government control over the market of digital currencies. The minister of Justice, Koen Geens stated that they should be subject to stricter rules due to their popularity with criminals and crooks. He also insisted on the fact that companies specialized in the field should be required to co-operate with the authorities.
Source : NewsBitcoin