The Italy tax bureau announced bitcoin as a digital currency, value added tax
New documents show that the Italy tax bureau (AgenziadellaEntrate) will bitcoin as a currency.
The tax bureau is Italy senior tax organs, this month released a new message on digital currency. A few months ago the European Court on how to use the technology deals with how to levy VAT ruling.
According to the Italy tax bureau report, using bitcoin transactions still not value-added tax; echoed in October last year the European Court of Justice (ECJ, EuropeanCourtofJustice) resolution. However, the tax bureau documents show that bitcoin speculation will be levied income tax, as long as it is involved in bitcoin transactions.
In response to the request of a local business tax bureau published the rules, did not disclose the specific business name. And in the category of bitcoin speculation outside the bitcoin transaction does not apply to the income tax.
So the revenue actually put bitcoin as a currency that is different from the current global bitcoin tax management.
The ruling is not perfect?
However, at least one analyst pointed out that the resolution of the problems of tax bureau.
Italy registered accountants and tax consultant StefanoCapaccioli writing Bowen said, the decision to participate in the digital currency trading companies to increase new unstable factors.
In particular, although the tax bureau should bitcoin tax law itself is not recognized, Italy. But he pointed out that Italy’s current accounting standards also have a conflict with the resolution.
“It raises more questions than it benefits”.