Danish Government issued a Letter for Crypto Users To Pay Taxes

Danish Government issued a Letter for Crypto Users To Pay Taxes

By HowToVids | Crypto Blockchain News | 15 Dec 2019


Governments run their activities mostly with the taxes people pay. That includes direct taxes and indirect taxes. But crypto launch created a problem for governments that they not in the tax net or no data is available to detect income earned through crypto. Now the Danish Government took a step to send letters to crypto users getting the benefit of tax evasion. Their tax authority sends letters to crypto users for taxes to pay to the government. They already have collected data from 3 exchanges.

According to Koinly Tax company they said “Filing tax on cryptocurrency trades is a difficult task as crypto traders usually hold several exchange accounts & wallets and freely transfer crypto between them, so there’s no easy way to figure out what the capital gains are for any particular trade,”

More they said, "This is just the first step in the fight against tax evasion and more serious actions are likely to be taken against investors in the future so it is a good idea to get your affairs in order as early as possible,".

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