The national revenue Agency of Bulgaria is going to check the local cryptocurrency platform and their users. It is reported Bitcoin.com citing local media.
Test will affect companies that have declared trade digital assets as a core activity. The tax office intends to study in detail the performance of these platforms.
Agency officials some concern that some of the virtual currency involve a high degree of privacy transactions. It sure tax, creates more opportunities to hide income and evade taxation.
The Agency also will analyze data on users local cryptoplasm. Officials intend to find out whether traders on their income from cryptocurrency transactions.
The peculiarity of the Bulgarian legislation is the fact that the profit from transactions with cryptocurrencies equal to the income from sales of financial assets. It is expected that individuals will have to specify this income in the annual tax returns.
It is also known that the positive balance from operations with digital money will be taxed on profits at a fixed rate of 10%. To profit cryptocurrency companies will have the same rate.
ForkLog previously reported that the Danish authorities ordered the bitcoin exchange to disclose information on trading operations. Also the Danish tax check three local exchanges.