Tax on income obtained from cryptocurrency transactions
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| Title: | Tax on income obtained from cryptocurrency transactions |
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| Authors: | Liliana Lazari, Roman Vieru |
| Source: | Journal of Research on Trade, Management and Economic Development 19 (1) 112-123 |
| Publisher Information: | Trade Co-operative University of Moldova, 2023. |
| Publication Year: | 2023 |
| Subject Terms: | taxpayer, криптовалюты, tax on income, object of imposition, obiect al impunerii, contribuabil, criptomnede, tax rate, cryptocurrency, cota impozitului, subject of imposition, субъект налогообложения, объект налогообложения, impozit pe venit, налоговая ставка, subiect al impunerii, налог на прибыль, налогоплательщик |
| Description: | The following research is aimed at individuals tangentially involved with digital or virtual currencies, who are increasingly facing questions about how to declare income derived from trading these financial instruments. The purpose of the research is to present the tax treatment of transactions with cryptocurrencies in the part related to the taxation of the income of legal entities and individuals obtained from the activity of trading with virtual currencies according to the legislation of the Republic of Moldova, as well as the practice followed in other countries. The issue of taxation of these types of income is a current one both at the level of the legislation of the Republic of Moldova and at an international level, given the fact of abundant flooding of the world economy with an enormously large number of cryptocurrencies without which today the financial-banking system would look like a quaint one. It is worth mentioning that the clarity of the tax legislation regarding the taxation of new types of income, or the synchronous advancement of the tax legislation with the up-to-date needs of the taxpayers is a priority both for the institutions that collect the sources of the state budget, as well as the income payers. In other words, increasing the clarity of the tax legislation and the tendency to align with international standards and practices ensure greater efficiency in the successful administration of state revenues and an upward growth in the number of compliant taxpayers. At the same time, this research aims to examine the causal link between the harmonization of legislation to the needs of the market with the level of compliance of taxpayers and receipts to the state budget. The scientific methods used in the study are as follows: analysis of the legal framework governing the research, synthesis of information, comparison to identify distinctive features, deduction of challenges. |
| Document Type: | Article |
| File Description: | application/pdf |
| ISSN: | 2345-1483 2345-1424 |
| DOI: | 10.59642/jrtmed.1.2023.08 |
| Access URL: | https://ibn.idsi.md/vizualizare_articol/184533 |
| Accession Number: | edsair.doi.dedup.....bb1a88df6ce24bd02dab29494310cd9c |
| Database: | OpenAIRE |
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Nájsť tento článok vo Web of Science | Abstract: | The following research is aimed at individuals tangentially involved with digital or virtual currencies, who are increasingly facing questions about how to declare income derived from trading these financial instruments. The purpose of the research is to present the tax treatment of transactions with cryptocurrencies in the part related to the taxation of the income of legal entities and individuals obtained from the activity of trading with virtual currencies according to the legislation of the Republic of Moldova, as well as the practice followed in other countries. The issue of taxation of these types of income is a current one both at the level of the legislation of the Republic of Moldova and at an international level, given the fact of abundant flooding of the world economy with an enormously large number of cryptocurrencies without which today the financial-banking system would look like a quaint one. It is worth mentioning that the clarity of the tax legislation regarding the taxation of new types of income, or the synchronous advancement of the tax legislation with the up-to-date needs of the taxpayers is a priority both for the institutions that collect the sources of the state budget, as well as the income payers. In other words, increasing the clarity of the tax legislation and the tendency to align with international standards and practices ensure greater efficiency in the successful administration of state revenues and an upward growth in the number of compliant taxpayers. At the same time, this research aims to examine the causal link between the harmonization of legislation to the needs of the market with the level of compliance of taxpayers and receipts to the state budget. The scientific methods used in the study are as follows: analysis of the legal framework governing the research, synthesis of information, comparison to identify distinctive features, deduction of challenges. |
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| ISSN: | 23451483 23451424 |
| DOI: | 10.59642/jrtmed.1.2023.08 |