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Get paid in crypto, don't tell the government? Don't collect/pay VAT nor tax on profits? Ed: or as a contractor/consultant - don't pay social security nor incom
by e12e 3y ago
Get paid in crypto, don't tell the government? Don't collect/pay VAT nor tax on profits? Ed: or as a contractor/consultant - don't pay social security nor income tax?
- adolph 3y agoI don't see how "cypto asset" are different from any other kind of payment. For example, if you are an employer and you pay in crypto, do your reporting requirements suddenly evaporate simply because the method is not a check?
- e12e 3y agoNo, it's illegal - it's just less visible (wage theft/tax evasion is also easier with cash only businesses). Transactions don't go through regulated banks, with reporting requirements, for example.