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This is actually rather funny, a professor from the law department said to the media that bitcoins are treated as two different things. First as a physical prod
by hmottestad 13y ago
This is actually rather funny, a professor from the law department said to the media that bitcoins are treated as two different things. First as a physical product and given 25% VAT when bought, then as a financial instrument when you sell it because you have to pay taxes on anything you earn (you can also get a tax deduction if you loose money when you sell it).
- PeterisP 13y agoHow is that 'treating as a financial instrument' ? If you earn money on resale, then it's taxed, no matter if it's a piano, a house, a bar of gold or a virtual coin.
- hmottestad 13y agoIn Norway when i private person sells their jewellery and makes a profit they don't have to pay taxes on that profit. Same way that they can't reduce their taxes because they lost money when they sold their jewellery. Same for house (if owned for >1year), and car, and boat, and all other physical things.