Taxing Bitcoin as an Asset

In a draft circular, Israel has announced that it will tax digital currencies like Bitcoin as assets instead of currency.  This follows a similar decision in the U.S.  Any profit from the sales of Bitcoin would be taxed.  This means that a taxpayer could pay tax on the sale of the product or service that results in acquiring the Bitcoin, and again on any gain from selling the Bitcoin.

Article by David Fried

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