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Why not fold it and move to Bitcoin-only donations? The authorities will have nothing to chase, the problem can't re-occur, accounting will be transparent, and

Why not fold it and move to Bitcoin-only donations? The authorities will have nothing to chase, the problem can't re-occur, accounting will be transparent, and accountants will not be required in future. Seriously, Dutch should start a petition against their tax authorities for victimizing an open source project.

LyndsySimon 9y ago
> Why not fold it and move to Bitcoin-only donations? I'm a huge advocate for Bitcoin, but this is a terrible idea. They're trying to support staff and the last thing you want to do in that circumstance is to limit the potential donor pool. I also don't see how changing the currency of the problematic transactions changes the tax implications.
- bluGill 9y ago
  In fact changing currency doesn't change tax implications if you intend to be legal. If you want to be illegal and risk not getting noticed you can hide behind bitcoin but the first auditor will notice this and report "I don't know how much, but there is tax fraud here so lets give maximum fines".
  - contingencies 9y ago
    Yes, but folding the entity means in most cases you are no longer liable for those past accounting hiccups. In future, you don't have to pay accountants, or waste time dealing with the state. Immensely practical. As far as donor pools go, if there is no way to obtain a monthly subscription from people via cryptocurrency then build it, as there is clearly demand.
palunon 9y ago
>The authorities will have nothing to chase, Yeah. Then the judge will tell you "Pay your taxes - then fines, etc - or we'll liquidate your corporation/foundation". If you don't pay, or give them access to the Bitcoins when they liquidate, they may hold you for contempt (or equivalent in the Netherlands). Don't think you can mess with a Nation State by simply not using the national currency. It's like wanting to evade corporate taxes by burying gold in a corn field...

LyndsySimon 9y ago

> Why not fold it and move to Bitcoin-only donations? I'm a huge advocate for Bitcoin, but this is a terrible idea. They're trying to support staff and the last thing you want to do in that circumstance is to limit the potential donor pool. I also don't see how changing the currency of the problematic transactions changes the tax implications.

bluGill 9y ago
In fact changing currency doesn't change tax implications if you intend to be legal. If you want to be illegal and risk not getting noticed you can hide behind bitcoin but the first auditor will notice this and report "I don't know how much, but there is tax fraud here so lets give maximum fines".
- contingencies 9y ago
  Yes, but folding the entity means in most cases you are no longer liable for those past accounting hiccups. In future, you don't have to pay accountants, or waste time dealing with the state. Immensely practical. As far as donor pools go, if there is no way to obtain a monthly subscription from people via cryptocurrency then build it, as there is clearly demand.

palunon 9y ago

>The authorities will have nothing to chase, Yeah. Then the judge will tell you "Pay your taxes - then fines, etc - or we'll liquidate your corporation/foundation". If you don't pay, or give them access to the Bitcoins when they liquidate, they may hold you for contempt (or equivalent in the Netherlands). Don't think you can mess with a Nation State by simply not using the national currency. It's like wanting to evade corporate taxes by burying gold in a corn field...