While cryptocurrencies were previously a niche phenomenon, the steep rise in the price of Bitcoin, Ether, Ripple and similar currencies has encouraged other investors to buy them. Beyond their financial aspects, these, especially Bitcoin, have become a social issue. Hardly a day goes by without people talking about it – good or bad – by various people, be they financial experts, politicians, academics or computer scientists.
If you are generating profits through cryptocurrencies, you should not lose sight of the tax aspect. However, as of today, fundamental issues regarding the taxation of Crypto Currencies and assets are unresolved and resemble a patchwork quilt – with considerable gaps.
We at jinfa S.à r.l. are tax advisors and Expert-Comptable in Luxembourg and would be happy to advise you on your questions regarding Crypto Currencies.