Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Finnish Tax Administration: Instructions on Bitcoin income tax

vero.fi

Post reply on HN
Print view View original

1–10 of 36 posts

Re: Finnish Tax Administration: Instructions on Bitcoin income tax

#7

Post by icebraining »

davedx wrote: post #3

Someone should put together a Wiki containing links to all current tax regulations for Bitcoin in each country. I'm very interested in what the Netherlands is going to do / has done with Bitcoin tax declarations, for example...

There's https://en.bitcoin.it/wiki/Tax_compliance#Jurisdictions - it's just a matter of filling in the details.

Re: Finnish Tax Administration: Instructions on Bitcoin income tax

#8

Post by dagw »

vilqqu wrote: post #5
andrewgjohnson wrote: post #4

Is there a one sentence TLDR in English to summarize?

I'm not an expert, but here's my summary: Profits from bitcoins are taxed as capital gain, except for profits gained from mining or games, which are taxed as earned income.

If you're taxed on your mined bitcoins as earned income, I wonder if you can write off your mining costs as business expenses.

Re: Finnish Tax Administration: Instructions on Bitcoin income tax

#9

Post by hannibal5 »

andrewgjohnson wrote: post #4

Is there a one sentence TLDR in English to summarize?

BTC is not currency or security. BTC is treated as any other asset outside currencies and securities. Person must pay taxes for capital gains but they can't do tax deductions from losses. Taxes hit every time BTC is used to buy something.

Mined bitcoins are taxed as earned income.

Post reply on HN