Ministry of Finance: Profits from buying and selling BTC are taxable! Measures to 'strengthen tax investigation' to be formulated within 3 months

Trump was elected to promote the CryptocurrencyBig Pump, legislators are concerned about Taiwan's cryptocurrency taxation today, the Ministry of Finance said that profits from related transactions are subject to income tax, and the IRS currently has an audit tool available to review the transaction of digital goods, and promised to study the relevant methods for tax verification of cryptocurrency trading income in 3 months. (Synopsis: Taiwan's BTC frenzy: the number of depository registrations and active transactions both hit a new high, and the APP finance category ranked second) (Background supplement: Trump took office with big variables!) Central Bank points out Taiwan's 3 major financial and economic shocks: tariff barriers may cause disaster) The Finance Committee of the Legislative Yuan today reviewed the 114 annual Central Government General Budget on the Ministry of Finance Tax Administration, Taipei National Taxation Bureau, Kaohsiung National Taxation Bureau, Northern District Internal Taxation Bureau and its subordinates, Central District Internal Taxation Bureau and its subordinates, Southern District National Taxation Bureau and its subordinates, Customs Administration and its subordinates, State-owned Property Administration and its subordinate revenue budget part and financing resource scheduling, Finance Minister Zhuang Cuiyun led the heads of relevant bureaus and departments to attend for consultation. Trump, the Republican president-elect of the United States who shouted in support of cryptocurrency before the election, will return to the White House, coupled with the election of cryptocurrency-friendly legislators elected into the US Congress, promoting expectations that cryptocurrency will flourish in a favorable regulatory environment, stimulating BTCbig pump to reach new highs. The Ministry of Finance will propose relevant measures for tax review Taipei National Taxation Bureau Director Wu Lianying said that a total of 26 virtual asset companies that have completed the declaration of compliance with the Money Laundering Prevention Law to the FSC have all registered for tax registration, and have also paid business tax and business tax, but the legislator believes that the current taxation of cryptocurrency is mainly for the practitioners, and the taxation and verification of personal transactions, the Ministry of Finance is still not perfect. The Commissioner of Taxation, Song Xiuling, pointed out that according to the current tax law, cryptocurrency is not a currency, it belongs to the purchase and sale of digital assets, as long as it is a gain from asset trading, it must be taxed, but because it is self-declared, it must be strengthened, and the Ministry of Finance will also cooperate with the FSC to enact a special law on virtual assets, and there will be new verification measures in the future. Song Xiuling mentioned that at present, the IRS has an audit tool that can be used to check the transaction situation of digital goods from other sources and check whether there is any short-term underreporting of income. Zhuang Cuiyun promised that within 3 months, he would propose relevant methods for tax verification of cryptocurrency trading income: I think since the first one has defined that it is not a currency, but a virtual asset, an asset, then its transaction should be subject to the relevant currency and should be subject to income tax. So the next thing is how do we go to check, to do the check part, then I think this part we will do a discussion. What is the current cryptocurrency taxation system? According to the Central News Agency, the current tax law stipulates that if domestic profit-making investors sell or exchange purchased virtual assets, they should calculate profits and losses after deducting relevant costs and expenses from the income received, and calculate the income, and levy income tax on profit-making undertakings according to law. Individual comprehensive income tax adopts "territorialism", and income tax is levied only on income incurred in Taiwan, and if an individual's income from non-recurring trading of virtual assets in China is a "property exchange" under the Income Tax Law, the balance after deducting the original acquisition cost and related expenses shall be the amount of the transaction price at the time of the transaction, minus the original acquisition cost and related expenses, and shall be incorporated into the total comprehensive income and levied income tax. If there is a property transaction loss, a special deduction for the property transaction loss can be reported and deducted from the property exchange. Polymarket suggests that "launch coinAirdrop" gamblers who participated in Taiwan's presidential election are miserable? Confession of Taiwan's Encryption Friendly Bank: Interview with Far Eastern Commercial Bank Dai Songzhi, what can a bit of sharp financial backing do for Crypto? TSMC complains that "Taiwan's electricity bill is the most expensive in the world"! The Minister of Economy responded: Strive to reduce prices and buy green electricity from the Philippines 〈Ministry of Finance: Profits from buying and selling BTC are taxable! Within 3 months, the "strengthening tax audit" method was first published in the moving area BlockTempo "dynamic trend in the moving area - the most influential Block chain news media".