The Portuguese Tax Administration (PTA) has officially announced that individuals do not need to pay value added tax (VAT) when buying or selling bitcoins and other cryptocurrencies. 🥇
Portuguese tax authorities published such an explanation in response to a request from a company that plans to engage in mining.
All types of cryptocurrency transactions, including payment for goods and services, converting cryptocurrency into fiat money, and opposite, buying cryptocurrency for fiat, as well as trading in digital assets, are exempted from this fee. 🔥 📝
In addition, individuals holding Bitcoins and Altcoins are exempt from income tax. At the same time, companies will have to pay capital gains tax, which ranges from 28% to 35% of the income received.
In its clarification, the Portuguese Tax Administration refers to the decision of the European Court of October 22, 2015 the case C-264/14, concerning the major Swedish bitcoin portal Bitcoin.se and its moderator David Headquist.
The court ruled that Bitcoin is a means of payment and therefore the exchange must be exempted from Value Added Tax obligations. However, the Swedish Tax Agency subsequently objected to the decision, arguing that the court did not fully understand the issue. 📝
It should be noted that today there is no single approach in the world to the taxation of cryptocurrencies transactions.
While the Value Added Tax exemption is applied in most countries, in many of them fiscal authorities consider it appropriate to charge residents with this tax if the virtual money held by the holders at the end of the reporting period (usually a year) has increased in value.
For example, in Germany, capital gains tax is not levied on the sale of bitcoins, but if investments are held for less than one year, then income tax is applied. Moreover, the income tax in Germany is progressive and can be up to 45%. 🔍
In Switzerland, which is considered a cryptocurrency friendly country, residents must pay income tax, income tax and property tax for their crypto assets.
Therefore, a similar step by the Portuguese tax authorities can be considered very liberal with respect to the participants in the cryptographic space of the country. 🤔
That is a huge step in the Bitcoin and other Cryptocurrancy Acception and Integration Hype is coming. Hold on!
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Category: Cloud Mining | Comments Off on Portugal – No Tax on Bitcoin 💰🇵🇹
Recently hashflare raise up the price of the SHA 256 contract due to raising prices at Bitmain.com, but the company still remains profitable. Now you can expect your return for 120 days witch is steel very good.
The interest for the cloud mining are so high that without raising the price Hashflare would run out of the avaliable hash powers for rent in December. By the way hashflare are about to run out of the available contracts soon.
They claim buying the ASICs at Bitmain company and already had tested Innosilicon miner but obviously they are saying that it’s a crap and are not worth to buy.
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Category: Cloud Mining | Comments Off on How to get the 3252% 💵 💰 annual interest a year in Bitcoins Mining Cloud ⛏️☁️
If you have no money or you not taking crypto market serious enough to invest your money then you can make some cryptocurencies absolutely for FREE without investing a penny.
First what you have to do is to have your own virtual web wallet on the very well known crypto wallet service Eobot to store your Cryptocurrencies such as: DogeCoin, ByteCoin, Ripple, Golem, CureCoin, Nem (XEM), Steem, MadeSafecoin, ect., as well as more expensive coins such as LiteCoin, Etherium, Bitcoin Cash and even Bitcoin itself.
Personally, I would recommend you to mine DogeCoin or the Bytecoin as this coins are the cheapest one due to the huge coin circulating supply. This coins are mined more faster.
Before start mining you should buy some Has Powers in the Eobot service, but again if you don’t want to fund you should earn you first crypto by going into the “Product” Tab and hitting the link “faucet“. After completing the simple fast task you would see the crypto that you have chosen before directly on your account.
You can use more faucets to fund your Eobot account in order to buy some more hash powers.
At MinerGate service you can mine Bytecoin directly on your computer as Bytecoin is minable at the processors (GPU and CPU) only in order to be better distributed and decentralized.
Of cause in the outcome at the first month the profit will be not more then a 50 backs, but imagine what that this 50 dollars will became in 5 years if we know that the average cryptocurrency market growth is 10x per year.
Did you calculated already? 5 million Dollars? 😯
I guess you will appreciate that post even it will be only 50k in the outcome. And maybe you would do some little donation as a gratuity 😉
My Bitcoin Wallet:
My Etherium Wallet:
My Litecoin Wallet:
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Category: Cloud Mining | Comments Off on Free Bitcoins for Noobs – How to make money investing a Zero?