Alexandoy
VIP Contributor
The bureau of internal revenue is now studying the crypto currency deals. Admittedly the government is in need of revenue and the trillion dollar crypto currency industry is there for the taking. At present the government officials involved in the plan are studying on the appropriate implementing rules and regulation when the crypto transactions are taxed.
Right now, the crypto currency is not popular yet but based on the recent research by authorities that many traders are raking in profit. I can agree on that because they say that the rich are mostly involved in crypto currency as investors and the middle class are mostly into trading. If the taxation is implemented I think the tax office will have a difficult time in tracking the transactions to have the accurate figures.
Right now, the crypto currency is not popular yet but based on the recent research by authorities that many traders are raking in profit. I can agree on that because they say that the rich are mostly involved in crypto currency as investors and the middle class are mostly into trading. If the taxation is implemented I think the tax office will have a difficult time in tracking the transactions to have the accurate figures.
