Tax consultants call for clarity on bitcoin taxation

Should Bitcoin be taxed? This question turns out to be a ticking bomb and is part of a heated discussion. A fairly large part of the Bitcoin community is of the opinion that Bitcoin should not be taxed - entirely in the sense of the inventor. Finally, Bitcoin is designed as an alternative currency, peer-to-peer, without external and governmental units. This is ensured by the decentralized nature of the Bitcoin network, which also manages without the intervention of state external offices.

Internal Revenue Service (IRS), has classified Bitcoin as an asset in April 2014 and since then the regulation has not changed or adjusted. The demand for a more concrete tax interpretation of Bitcoin is therefore correspondingly large.

In addition, the American tax authority IRS has to clarify how to deal with bitcoin donations for charitable purposes. After all, in the United States the amount of donations and charity events can not be underestimated.If you want to know how the current tax treatment of Bitcoin in Germany looks like, I recommend you our recently published book: The Bitcoin Bible - The book for digital currency as an e-book for 4, 99 euros or as a pocket book for 12, 90 Euro from now on Amazon. BTC echo English original version of Gautham via NewsBtc