The India government is considering bitcoin purchase tax

The India government is considering bitcoin purchase tax


Local news reports say, India is likely to buy bitcoin behavior for goods and services tax.

India officials have been studied for several months on how to develop digital currency legal framework, in April set up a special working group to study the problem and propose possible solutions. The legal problems of the technology in the India legal system has been questioned, especially public report that, to some extent, can be understood as bitcoin almost no restrictions.

Local news agency TheHind reported that the details of the work are emerging, including the possibility of tax. Apparently, according to the official explanation, on the prohibition of encryption currency topic indeed in recent meetings have been proposed, but in the end the proposal almost no support.

Officials told the media:

“No will showed a clear message: all relevant activities are illegal, and make those who try to assume a speculative risk loss of power. But it also shows that they do not tax related activities, in contrast to control through the currency block chain technology development, encourage the development of supervision system (tracking and tracing illegal legitimate activities also support activities), and promote the formation of regular tax base.”

May trade activities by the India securities and Exchange Commission (SEBI) jurisdiction, SEBI management in India securities market.

Finally, according to TheHindu news, bitcoin and other encryption currency may be that India law is a kind of digital assets.

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